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Econ Chp 1 Test Essay Question

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An economist might say, “Choosing is refusing.” Explain this statement in your own words, and using economic vocabulary.

25 replies on “Econ Chp 1 Test Essay Question”

An economist might say “choosing is refusing” because when you make a final choice, you make that choice. You don’t go along with your other alternatives. You might have a backup plan as your opportunity cost, but that’s when your choice doesn’t work out, or you change your mind. As an example, let’s say you’re deciding to grow either potatoes or carrots on your farm. You choose to grow carrots, and potatoes are your opportunity cost. You’re choosing carrots for the benefits it will provide; you’re refusing to give these up due to the choice you made. And in a way, you’re refusing to grow potatoes. Maybe it’s because of the scarcity of the factors of production that will take to tend to the potatoes. You might need more labor to tend to the growing potatoes, then the labor it would take to tend to carrots and where you live, that might not be available to you. The amount of land you need may also not be sufficed to your needs. All in all, you make a choice because it will benefit you, and you refused the other alternatives because of scarcity and the limits it will cause you.

When an economist says that “choosing is refusing” they may be refering to the opportunity cost or the foregone benefits of a decision. If you have to choose between which shirt you want to wear for the day, and you have a hoodie and a nice shirt to choose between, and you pick the hoodie, the nice shirt is your opportunity cost. And the benefits that you gave up to wear the hoodie are your forgone benefits. By choosing the hoodie, you are refusing to take part in the benfits that you would get from wearing the nice shirt for the day.

I think this statement means that when you choose something there’s always an option you’re giving up, either your opportunity cost or your alternative choices. “Choosing is refusing” means that you’re refusing all other choices. Scarcity is a reason for this because in order to have what you want, you need to give up something.

The statment “Choosing is refusing” means that if you are given a choice, for example a multiple choice test, you choose C as the correct answer and must refuse A B and D as the answer. Because of scarcity we can not choose everything. We can not own everything which makes us choose and refuse. When choosing ones result you are refusing the opportunity cost or the second best option to the problem. This is how i interpret “Choosing is refusing.”

Economist might say, “Choosing is refusing” for many reasons. This simple thought all goes back to the main idea of scarcity, limited quantities of resources to meet unlimited wants, with having unlimited wants you can’t always have everything you want and you must make one choice. One has multiple alternatives but only one choice, so when one makes that choice they are giving up the other alternatives. So when the one choice is made in a sense they are refusing the other alternatives, therefore saying choosing in refusing. This idea that “Choosing is refusing” brings up many basic ideas of economics.

“Choosing is refusing.” To me this means that when you choose one thing, you refuse another. In economic terms, it means that when when you choose the benefits and and costs of one alternative, you are refusing the benefits and costs of other alternatives. When only faced when two alternatives, the one refused would be the opportunity cost. However, if approached marginally, then you could choose a certain amount of one alternative, and balance it with another alternative to ensure efficiency and to prevent underutilization.

“Choosing is refusing” is a quick way of explaining a opportunity cost. If you choose to do something then you are refusing to do another thing. Like today I had to choose to go to brass choir or a bowling tournament. I had to refuse to go to bowling, my opportunity cost, because I choose to go to the brass choir. People do this every day in society. Every time you make a decision you end up refusing something. So to make a choice you MUST refuse to do something.

The choosing is refusing statement is saying if you pick one thing then you re saying no or refusing everything thing else. If i choose a Mazda over a Toyota then i would be choosing the Mazda and refusing the Toyota. The opportunity cost would be maybe the car is better or not being able to drive the Toyota. In society people are always refusing things whether it is choosing a car or even choosing for breakfast. A farmer has to choose what to grow or what livestock they want to have. Everyone is refusing things and no matter what it will happen even if you don’t think so.

“Choosing is refusing” is a good term to use in economics because is explaining the importance of opportunity cost. When you have multiple alternatives, each alternative has costs and benefits. Then, when you make a choice, you are giving up the benefits of the alternative you didn’t pick, and that is your opportunity cost. A person can’t have everything they want because of scarcity. We have to make choices. When you choose, you are refusing the benefits of the other option. Therefore, choosing really is refusing.

By choosing one activity or item, you give up the opportunity cost. Scarcity is always present, therefore we won’t be able to have everything we want. We can only choose the things that we really want.

An economist might say “choosing is refusing” because when you make a choice, you turn away all of the other alternatives you had to chose from. It’s like you’re refusing all of the other options you had because you made a choice of one thing. For example, if you had 1 hour to do something and it was between eating, sleeping, facebook, or tv, and you chose to sleep, you have refused eating, tv, and facebook. So an economist might say that making a choice is refusing all of your other alternatives.

an economist might say “choosing is refusing” because opportunity cost plays a role in our world today. we all have to make decisions in life and make trade- offs. making these decisions in an economist eyes might mean refusing but it could also just mean making a choice that would be better for ourselves at the time.

Choosing is refusing is referring to the fact that whenever somebody chooses something you have to refuse another option and make it your opportunity cost. All choices made includes rejecting another option based on it’s benefits and cost. Even for simple daily task like choosing your outfit in the morning or what to eat for breakfast. For example if your friend asked you to go to the movies and another friend asked you go out to dinner at the same time. You would clearly have to refuse on option. You could go to the movies with your friend and not eat dinner with your friend or vice versa.

When you choose to do something or buy something you give up doing something or buying something else. When you give something up the most desirable choice that you give up is your opportunity cost. For example, if you want to buy a tv, an x-box, or a cell phone but you chose to buy the tv, your opportunity cost would be the x-box which you refused to buy because you wanted the tv.

When someone says, “Choosing is refusing,” they mean that when you do chose a good over another, you’re refusing the other good. The refused good is your opportunity cost. People have to make many decisions in life and when they chose one over the other, it’s not because they don’t want to make that decision. It’s because they decision they do make has more benefits for them. So in the end, they have to “refuse” their other possible decision.

“Choosing is Refusing” means that a person has many options he may select, but he will ultimately have to refuse all of them except one. The best option that he did refuse would be considered the opportunity cost. All the rest of the options he refused, are considered the trade-offs to an economists. Sometimes a person has to refuse a resource because of scarcity. Scarcity is when there are limited amount of resources for an unlimited amount of wants. Also, scarcity will always exist, this also mean, “Choosing is refusing” will always exist.

“Choosing is refusing” means that in order to make the choice to do something, you have to refuse something else.It hasto do with opportunity cost. Basically, if you spend your time or money on one thing, that means that there’s at least one other thing you can’t do. For example, if you have $100, and you spend it on a new computer, you might be very happy with that computer. But the downside is that you can’t spend that $100 on, say, a vacation to Texas. By choosing the computer, you refused the trip. An economist would say that your trip is the “opportunity cost” of your car purchase, because it’s the best opportunity that you turned down. Pretty much every time you make an economic decision, you are refusing at least one choice like this.This is what the quote “Choosing is Refusing” means to mean

“Choosing is refusing.” This statement could mean a multitude of things. In one sense, when making a decision you accept all the costs and benefits that come with that specific choice, but you not only refuse to accept the alternatives, you refuse the benefits of the alternatives. These are the opportunity costs of economic decisions. In another sense, when making choices there are so many alternatives to choose from that some people may actual refrain from making any decision at all, as Barry Schwartz has said, and they refuse all the choices. Therefore, when choosing with so many alternatives to choose from, some may actually refuse to choose, which would make choosing refusing.

when economist say choosing is rufusing they are talking about oppurtunity cost, because not matter what choice u make there is always an oppurtunity cost. so u may choose one choice but in doing that u are rufusing another.

The statement, “Choosing is refusing”, in economics means that when one product is chosen by a consumer another product is being refused. The person that buys a Ford has refused all of the other make of cars.The same is true for all products and services where there is competition.

If you have to choose between two objects, you are going to choose one and refuse the other. This means, the one you refuse is your opportunity cost. Meaning it was your second choice. This is because you can only choose one, not both.

“choosing is refusing” simply means that you are choosing something and refusing something else at the same time. This goes back to the term scarcity. You can’t always have what you want. So, if you choose an item, you can’t have another item of your choice. Economics do not work that way. Also when you have your item of choice the next item on your list becomes your opportunity cost. So when economists say, “choosing is refusing” they are proving in words the basis of economics, scarcity.

When an economist says choosing is refusing, they may mean that by selecting one alternative, you then give up the possible outcomes of the opprotunity cost as well as any other alternative. This economist may be advising that you should wait and consider all of your different options before selecting something in case if something better comes around or else you could miss out on an alternative of higher value to you.

When one says “Choosing is refusing,” they are saying that in a choice, you must refuse the trade-offs. There will always be a cost in a decision with more than one choice, and the choices you ignore are the costs. Primarily, the opportunity cost, the next best option, is what you really refuse in a choice.

I think the statment, “choosing is refusing”, is a witty, yet true evaluation of the decision making process people experience every day. Every day, we are dealt with options of which we must decide or choose what we are going to do next. Such as choosing whether to play basketball, go running, or sleep. Only one of these things can be done, so I only have one choice. By making your choice, you’re ultimatly REFUSING to do any of the other options available. Sometimes we dont even make one choice, but just eliminate or refuse some options, leaving us with one choice. We make many decisions everyday, therefore we are constantly “choosing and refusing.”

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