Wow! AP Mircoeconomics Unit One complete. Although I wish we had spent more time on the first unit, I know we couldn't and I'm actually interested in economics. It takes me a little longer to fully understand concepts though.
My favorite concept so far is comparative advantage. I think it's cool that even though someone may not be very good at something, that person can still have an advantage and benefit from it. I also think it's something I could use in the future. For example, if I'm working at Jimmy John's one night. Katie and I are trying to decide who should slice turkey and who should slice cheese. She has been working there for 3 years and I've only been working there for a year in March, but I've only been able to slice since October. Obviously, Katie has the absolute advantage in both seeing as she has had much more practice. Knowing how to determine comparative advantage would be key in this situation and I think it may be fun to find out what I have comparative advantage in for slicing. This information may work in my favor when it comes to getting out of slicing cheese. =)
On that note, I'm excited to see what Unit Two will bring..
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Though Katie may have had more practice, that does not necessarily mean that she has the absolute advantage in both. Maybe you have some natural cheese-slicing skills :). Regardless, it's cool that you are applying comparative advantage to your life.
Excellent! I love it when these things start to pop in people's heads...that there is a great way to apply the concepts we look at. :)
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