Economics-Opportunity-Cost-机会成本简介

EconomicCostOpportunityCostContentsIntroductionHistoryCalculationofopportunitycostRealworldexampleWillingnesstopayAccountingcostWorkcitedSunkcostExplicit&ImplicitcostsBenchmarkYieldNote:ClickthelinkFirst:Whatiscost?Theconceptofcostisfarricherthanthedollarsandcentsyouhandoveratthecashregister.Therealcostofsomethingiswhatyoumustgiveupinordertogetit,whichisalmostalwaysmorethanjustcash.Reference:Wheelan,Charles.NakedEconomics.NewYork:Norton,2010.Print.Page11.Definition

of

opportunity

costAmeasureoftheeconomiccostofusingscarceresources(FactorInputs)toproduceoneparticulargoodorserviceintermsofthealternativestherebyforegone.

Reference:ChristopherPass,BryanLowes,LeslieDavies.CollinsEconomicsDictionary.Shanghai:SHANGHAIUNIVERSITYOFFINANCEANDECONOMICSPRESS,2008.Print.Page520.

Inaword——What

must

be

sacrificed

to

obtain

something.Imagescomefrom:<E9%80%89%E6%8B%A9&ie=utf-8>Whichone???Thiscatcomesfrom:<://news.sina/w/2012-06-13/083924584197.shtml>AustrianeconomistFriedrichvonWiesercreatedthisterminhisbookTheoriedergesellschaftlichenWirtschaftin1914.HistoryofOpportunitycostReferences:Wikipedia.Nov.11.2014.<://>FrenchclassicaleconomistFrédéricBastiatfirstmentionedtheopportunitycostinhisessay"Cequ'onvoitetcequ'onnevoitpas

(WhatIsSeenandWhatIsUnseen)

"in1848.HistoryReferences:Wikipedia.Nov.11.2014.<:///wiki/Fr%C3%A9d%C3%A9ric_Bastiat#.22What_is_Seen_and_What_is_Unseen.22>WillingnesstopayWillingnesstopay(WTP)isthemaximumamountanindividualiswillingtosacrificetoprocureagoodoravoidsomethingundesirable.Reference:Wikipedia.Nov.11.2014.<://>Relationwith

ConsumersurplusEachpointonthedemandcurvethatconsumersinacertainnumberofthehighestwillingnesstopay,ifthepurchasepriceislowerthanthedemandprice(willingnesstopay),thedifferenceisthattheconsumersurplus.Reference:<:///article/4a8f1bc8-67d5-4e04-b900-aaecd2d81829.htm>Onetwothree……？？？AccountingCostAccountingcost

=Accountpayments

=Haveconsumed+NotconsumedHaveconsumed＝cost+lossNotconsumed＝AssetsPerfectCompetition:Opportunitycost=AccountingcostReference:Baidu.Nov.12.2014<://baike.baidu/view/315328.htm?fr=aladdin><://g-tu/photo/3/billustration/2011/0323/34163.html>Difference:Opportunitycostswillinfluenceyourchoice.Accountingcostsareinfluencedbyyourchoice.ExplicitCosts

&

ImplicitCosts

ImplicitCosts&OpportunityCostsImplicitCost{opportunitycostoftimeopportunitycostoffinancialcapitalRelation:Economicprofit=Revenues-ExplicitCost-ImplicitCost=AccountingProfit-ImplicitCostOpportunityCost=ExplicitCosts+ImplicitCostsReference:<E8%B9%87%E5%86%A9%E6%AB%A4%E9%8D%8B%E3%83%A5%E5%8F%8F>SunkCost

Asunkcostisaretrospective(past)costthathasalreadybeenincurredandcannotberecovered.Reference:Wikipedia.Nov.11.2014.<:///wiki/Sunk_costs>gambleThemoneyyoulostisyoursunkcost.Themoreyoulost,themoreyouwantitback.So……SometimesweneedtoletitgoReference:<://>BenchmarkYieldBenchmarkyielddependson:SourcesoffundsTheopportunitycostofinvestment⇘⇘⇘⇘⇘⇘

benchmarkyield>theopportunitycostofinvestment>costofcapitalProjectriskInflationrate……Reference:<://>TheCalculationofOpportunityCostReference:<://NO.1Theopportunitycostofsomeoneuseshisownmoneytosetupabusiness＝theinteresthecangetifthemoneywerelenttosomeoneelseReference:<://szzhongde/yewu3.asp>NO.2Theopportunitycostofsomeoneworksasamanager〔whorunshisownbusiness〕＝thesalaryhecangetifheworkforsomeoneelse〔company〕Reference:<:///fj/hxwh/news371159.htm>NO.3Ifthemachinehasneverbeenusedbefore，theopportunitycostofusingitnow＝0Reference:<://taopic/tuku/201306/376614.html>NO.4IfthemachinewasusedtoproducethegoodsAandgotprofits.Now,weuseittoproducethegoodB.Theopportunitycostistheprofitswecouldget,ifitstillproducesA.Reference:<://qlrc/news/85005.html>NO.5Thematerialswereboughtinbefore,andnowthepricehaschanged.Theopportunitycostistherevenuewecouldgetifwesellitnow.Reference:<://news.xd56b/shtml/gtsc/20111114/206841.shtml>NO.6Theopportunitycostofusingthematerialswhichareboughtinwiththecurrentmarketprice,theemployeeswhoarehiredwithcurrentwages,andthecapitalyouborrowedwiththecurrentinterest=Theaccountingcostofthat.Reference:<://16sucai/2013/11/30412.html>NO.7Theopportunitycostofdepreciation=thefront-endvalueofthemachine–theendingvalueofitReference:<:///tk/36578.html>RealWorldExampleExampleStayinChinaGoabroadReference:</>ChoiceIfwestay……Ifwegoabroad…..Reference:<://shijue.me/zone/show_art/515d5f4ee744f93f0a001584>Ifwegoabroad……

Let’sseeouropportunitycostsTime:youaregoingtopaymoretimetopasstheiBT,SAT/ACT,AP……Energy:paymoreattentiononEnglishTuition:higherRelationship:notinclosetouchMoney:wecanmakeinChinaBACKWorkCited:3.Definitionofcost:Wheelan,Charles.NakedEconomics.NewYork:Norton,2010.Print.Page11.4.Definitionofopportunitycost:ChristopherPass,BryanLowes,LeslieDavies.CollinsEconomicsDictionary.Shanghai:SHANGHAIUNIVERSITYOFFINANCEANDECONOMICSPRESS,2008.Print.Page520.5.Imagescomefrom:<://image.baidu/i?tn=baiduimage&ps=1&ct=201326592&lm=-1&cl=2&nc=1&word=%E9%80%89%E6%8B%A9&ie=utf-8>6.Thiscatcomesfrom:<://news.sina/w/2012-06-13/083924584197.shtml>7&8.Historyofopportunitycost:Wikipedia.Nov.11.2014.<:///wiki/Friedrich_von_Wieser>Wikipedia.Nov.11.2014.<:///wiki/Fr%C3%A9d%C3%A9ric_Bastiat#.22What_is_Seen_and_What_is_Unseen.22>9.Willingnesstopay:Wikipedia.Nov.11.2014.<:///wiki/Willingness_to_accept>10.Reference:<:///article/4a8f1bc8-67d5-4e04-b900-aaecd2d81829.htm>12.Reference:Baidu.Nov.12.2014.<://baike.baidu/view/315328.htm?fr=aladdin>Picture:<://g-tu/photo/3/billustration/2011/0323/34163.html>Picture:<E8%B9%87%E5%86%A9%E6%AB%A4%E9%8D%8B%E3%83%A5%E5%8F%8F>17.Reference:Wikipedia.Nov.11.2014.<:///wiki/Sunk_costs>18.Picture:<://quanjing/share/jui19003.html>19.Picture:<:/