Purchase Solution

Education Economics

Not what you're looking for?

Ask Custom Question

Please discuss the role "scarcity" played in your pursuit of a college degree. Did you engage in what economics calls "rational behavior" and how does your choice reflect "self- interest"?
Please discuss the idea of trade-offs (cost and benefit analysis) when answering the above question.

Purchase this Solution

Solution Summary

This solution discussed scarcity with regards to a college degree, and if rational behavior and self-interest had a part in the decision-making process.

Solution Preview

In the pursuit of my college degree, scarcity played a role in it. This was because I wanted to get a job in my field upon graduating. For example, the benefits were that I would have an increase in salary, job satisfaction, opportunity to get in a management position, set my own hours, and the chance to make a difference in the lives of others. These were reasons on why I went for it. However, I might add that neither of my parents hold anything above an Associate's degree, and my mother only has her high school diploma. As a result, I was all the more determined to do better than both of them. Well, after graduation, I learned that it is very difficult to find work because of the economy, so I did partake in rational behavior. I had ...

Purchase this Solution


Free BrainMass Quizzes
Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.