Write a blog post about a product or service you bought but required some sacrifice to acquire.

 

Discuss these questions on the bottom

The product or service you bought and why it was important to you. Who provided the product or service?

1. How all things are scarce and whether you believed the product or service was particularly in low supply and/or high demand.
2. At least three trade-offs you had to make to acquire the product or service.
3. Based on those trade-offs, what your "opportunity cost" was (the most highly valued alternative you gave up).
4. The producer's "comparative advantage," meaning its lower opportunity cost for production. Did you buy the lowest priced product or service, or was quality a key factor?