How to calculate opportunity costs

  Рет қаралды 889,899

Free Econ Help

Free Econ Help

12 жыл бұрын

This video goes over the process of calculating opportunity costs. Generally, opportunity costs involve tradeoffs associated with economic choices. Specifically the opportunity cost is the value of the best available alternative (that you have given up). This video goes over my personal method to make sure the opportunity costs are calculated correctly.
More information about this is available at: www.freeeconhelp.com/2011/09/c...

Пікірлер: 208
@FreeEconHelp
@FreeEconHelp 6 жыл бұрын
Thank you so much for watching this video! I hope it was helpful :) If you have any questions, please leave them below and I'll do my best to address them. As always I really APPRECIATE the "thank you!"s, LIKES, and SUBSCRIBES! They keep me going :) Have a great day and good luck on that exam!
@MandeepKaur-ds3np
@MandeepKaur-ds3np 3 жыл бұрын
Sir please let me know how opportunity cost of 1tv is 1/2 chair .when we divide 5/10 it give me answer 2 or 0.5 but not 1/2. Please help me sir
@reybambampow3514
@reybambampow3514 6 жыл бұрын
You taught me in 5 minutes what I been struggling with for nearly 5 hours with the crappy textbook they gave us
@FreeEconHelp
@FreeEconHelp 6 жыл бұрын
Thanks!
@CeynteShow
@CeynteShow 5 жыл бұрын
me too, that was helpful.
@melissavincent7952
@melissavincent7952 6 жыл бұрын
For some reason I couldnt wrap my brain around this calculation on my own, and this video helped SO MUCH. I can't thank you enough.
@FucheGewgle
@FucheGewgle 6 ай бұрын
Me too!! I am way dyslexic! This helped me a lot!
@bradylisle1810
@bradylisle1810 2 жыл бұрын
I spent an entire semester trying to understand this for microeconomics, got a LOW C in the class, almost switched majors because i couldn't grasp this fundamental concept. I started taking macroeconomics and you taught me in a way that I finally understand.
@sabinabujoreanu2607
@sabinabujoreanu2607 6 жыл бұрын
It's late at night r.n and I have an economics test tomorrow, and I was about to freak out that I don't understand how to calculate OC but then I found this video. THANK YOOOU , YOU JUST SAVED ME!!!
@ChemSquid
@ChemSquid 9 жыл бұрын
Thank you so much for this, I love how you've broken it down enough to understand exactly how it should be done.
@ryanbeckwith6137
@ryanbeckwith6137 4 жыл бұрын
The way in which you find the Opportunity Cost in this video is a really great way to not only check your answer but make sure your retaining the knowledge. Thank you so much, I appreciate you.
@kellymartinez159
@kellymartinez159 4 жыл бұрын
Thank you so much, ten videos later no one BOTHERED to say HOW to do it. Easy method, clear. no fluff just info. THANKS MAN!!!
@angelamontoya6354
@angelamontoya6354 3 жыл бұрын
OC understanding has been elusive to me. My brain agrees with your method of explanation. I was worried about remembering the 3 points but, this AM I woke up with the sentence on my brain. Thank-you!!!
@oliviatiritilli5800
@oliviatiritilli5800 8 жыл бұрын
People like you make the world a better place! thanks for the help!!!!
@MrJmr887
@MrJmr887 6 жыл бұрын
Thank you buddy, my homework question was soo confusing to me until you explained it and showed it to me this way. A rather simple process.
@kimmmm3n
@kimmmm3n Жыл бұрын
I passed my microeconomics exam because of this method. I got full score on this question on the exam due to this method. And that helped me to make me pass the total exam! Thanks!
@jannices.a6228
@jannices.a6228 9 жыл бұрын
I FINALLY GET IT! Thank you this is extremely helpful!:)
@ken8844
@ken8844 10 жыл бұрын
Oh my god. This is exactly what I was looking for. For me, I don't understand O.C but they way you explain is just perfect. I hope there are more easier way to learn in Macro/Micro Economist
@elicezanker
@elicezanker 6 жыл бұрын
Thank you so much, you've made it so easy to understand. Super grateful!
@valentinacaravelis8484
@valentinacaravelis8484 5 жыл бұрын
This was very easy and helpful. It makes so much more sense now thanks
@adriannaz3898
@adriannaz3898 4 жыл бұрын
I struggling about 2 hours with this question!!! This video save me life!!!!!!!!!!!!!!!!!!!!!!!!! Thank you so much!!!
@narutofan4545
@narutofan4545 8 жыл бұрын
thanks pham missing a whole week of macro really did a number on me
@sourovajmain2048
@sourovajmain2048 3 жыл бұрын
That Per hour example really saved me. Thank you
@shortWM
@shortWM Жыл бұрын
After watching many videos, I wasted my time. But I learn the best part for this topic in your video. Thank you Brother❤️
@lenaayon737
@lenaayon737 Жыл бұрын
you are the real MVP. Thank you
@michellearellano5091
@michellearellano5091 11 ай бұрын
Great video!! Helped teach me what my professors couldn’t
@AVANID-ld3zs
@AVANID-ld3zs Жыл бұрын
This was so incredibly helpful and so easy to understand
@IJayhonI
@IJayhonI 11 жыл бұрын
You sir are a life savior!
@billiereyes1
@billiereyes1 12 жыл бұрын
THANKS SO MUCH BECAUSE I WAS SO CONFUSED BUT NOW YOU HAVE GIVEN ME CLARITY :-)
@romero2g4u
@romero2g4u 10 жыл бұрын
OMG! This is so SIMPLE! Thank you!
@mrchowchow110
@mrchowchow110 4 жыл бұрын
Thank you so much! Studying for AP Macro was smooth sailing until I just could NOT wrap my head around this!
@staceyjezek1828
@staceyjezek1828 11 жыл бұрын
Made it SO easy to understand! Thank you!
@emmacho2580
@emmacho2580 9 жыл бұрын
Thank you! you explained much better than my professor.
@Munistic
@Munistic 4 жыл бұрын
THANK YOU SO MUCH! my professor does not teach at all and only shows us images on lectures. This helped a lot
@AGloriousLife
@AGloriousLife 11 жыл бұрын
OMG! Thank you for explaining this so clearly!
@joaquinzanabria9859
@joaquinzanabria9859 4 жыл бұрын
thank you for this!! truly helped me before my Macro Quiz! Bless!!!!!
@nutritionscience88
@nutritionscience88 4 жыл бұрын
Thank you sooooooo much . I have a test tomorrow and I was totally lost but you explained it very well. Thankssssssss
@sepandjazzi
@sepandjazzi 2 жыл бұрын
8 years late, but this is awesome!!!
@Ikelley124
@Ikelley124 11 жыл бұрын
Wow you make it so easy to understand, thank you!
@chrisem060591
@chrisem060591 9 жыл бұрын
This was very helpful! I get it!
@fredielyncunanan3942
@fredielyncunanan3942 8 жыл бұрын
You made my life so much easier. You are heaven sent! cant thank you enough.
@gabrielsanchez1285
@gabrielsanchez1285 8 жыл бұрын
You look like you are heaven sent too ;)
@Filming-and-Stuff
@Filming-and-Stuff 9 жыл бұрын
Extremely helpful - thank you
@alecmcmillan2128
@alecmcmillan2128 9 ай бұрын
on the per-hour example in Jill's case, does it mean that she can either create 3 TVs OR 5 chairs per hour, or is it that in the space of an hour she can create 3 TVs AND 5 chairs?
@Scripturalnsights
@Scripturalnsights 8 жыл бұрын
Thank you so much! Can you provide a brief video on how to plot a graph using two different units that are limited by say 50 labour (collective) hours a day? The units may be entertainment production vs. food production.
@smilgadp
@smilgadp 8 жыл бұрын
Thank you very much for sharing this video! All the Best
@thecrunchyrunner5321
@thecrunchyrunner5321 8 жыл бұрын
This is so helpful thank you so much!
@all_might6688
@all_might6688 3 жыл бұрын
Way better than my textbook's explanation! Thank you so much for helping me get an A+ on my ECO test :')
@jaejuhira
@jaejuhira 9 жыл бұрын
based on your explanation, it shows that no need to sketch the PPF graph to obtain the opportunity cost value if the number that we wanna use is already stated on the table. thus, I would like to know if this way is applicable or not in order to find the opportunity cost for the number that is not stated on the table ?
@butterpecanrican_
@butterpecanrican_ 2 жыл бұрын
OMFG I COULD CRY RIGHT NOW. THANK YOU. 😭😭😭😭😭
@kamakazebunny
@kamakazebunny 8 жыл бұрын
Great video and example. Got confused reading my notes, so I had to look this up. lol
@bryceholevas6749
@bryceholevas6749 8 жыл бұрын
this just made my life so much easier
@fatimamitu4809
@fatimamitu4809 3 жыл бұрын
thanks for this video! Helped me a lot
@thebiermanbrothers6241
@thebiermanbrothers6241 3 жыл бұрын
Soooo helpful thank you so much my man! God bless!
@sophiebeckley1179
@sophiebeckley1179 11 жыл бұрын
Thank you! This has helped me so much! :)
@hasibsaayed603
@hasibsaayed603 4 жыл бұрын
Very Helpful! Thank you!
@Eadrene
@Eadrene 12 жыл бұрын
Thank you so much. This is absolutely amazing.
@MrLittledirector
@MrLittledirector 6 жыл бұрын
What a Top Class Legend you are! Only you could explain it properly
@FreeEconHelp
@FreeEconHelp 6 жыл бұрын
Thanks!
@mesaketadulala9720
@mesaketadulala9720 9 жыл бұрын
thanks alot mahn, truly helped on an economics tutorial (Y)
@felixojunekwu7753
@felixojunekwu7753 5 ай бұрын
I am a bit confused with the formula used here. How can this be used for scenarios like salaries of A and B, expenses and other benefits? a formula: OC=FO-CO. FO: Return of the FORGONE OPTION. CO: Return of the Chosen Option.
@kekenhawak
@kekenhawak 3 жыл бұрын
What if you a different numbers when you substract the numbers of chairs? What will you do?
@dancinglikecrazy5510
@dancinglikecrazy5510 4 жыл бұрын
I dont understand why i wasnt understanding how to calculate this but now i do thanks
@sacsac18
@sacsac18 9 жыл бұрын
Wow. Great method!
@shroomamiii
@shroomamiii 4 жыл бұрын
this is so helpful thank u!!!
@Kenzinru
@Kenzinru 3 жыл бұрын
Man you are the awesome. thanks for the help.
@ukareben3297
@ukareben3297 Жыл бұрын
Thank you so much. It help me to understand.
@DuhItsMeLeo
@DuhItsMeLeo 11 жыл бұрын
Thanks! Couldn't have done my homework with out it lol. And also SUBSCRIBED lol because I know I'll need more help through my econ course.
@MotherMonstersBaby
@MotherMonstersBaby Жыл бұрын
Our teacher used the exact same example but I needed a reminder of whether the differences were used in the division or the actual number of chairs and TVs so thank you 😅
@Bradlyhowland
@Bradlyhowland 8 жыл бұрын
Very helpful video - thanks for sharing.
@Skim3431
@Skim3431 11 жыл бұрын
you're a life saver. Thanks
@dzezud7674
@dzezud7674 2 жыл бұрын
I can't believe it can be this good
@lauryn7490
@lauryn7490 6 жыл бұрын
This helped so much thank you
@pupumipubx9584
@pupumipubx9584 8 жыл бұрын
Thank you so much. I understand O.C a lot better now.
@arnavkachroo279
@arnavkachroo279 7 жыл бұрын
so very helpful. 1 question. would this work in all cases? i mean assuming im doing it right would it work
@aaqilhussaini8474
@aaqilhussaini8474 8 жыл бұрын
great your method rocks !!
@MA-rc2eo
@MA-rc2eo 4 жыл бұрын
Thank you man you saved me.
@Ferdinaand
@Ferdinaand 7 жыл бұрын
Great, helpful video !
@Astuslinux
@Astuslinux 4 жыл бұрын
Wonderful nice professor .well explained ... thanks alot
@kvsrajeev
@kvsrajeev 10 жыл бұрын
Thanks much for sharing your knowledge on youtube.
@Naturalnewbe1
@Naturalnewbe1 9 жыл бұрын
If you just add one more to both sides like 36 guns then how u calculate butter or if you added 1 butter like 4 then what's the guns
@angeldavis8020
@angeldavis8020 9 жыл бұрын
Hey cuz!! How ya doing
@user-gz4kk3lk9g
@user-gz4kk3lk9g 2 жыл бұрын
great video! thanks !
@harrywu630
@harrywu630 4 жыл бұрын
Thank you so much, that's very helpful
@tritonejack
@tritonejack 11 жыл бұрын
wow ! u saved me !! thanks and nice video.
@Loriloya
@Loriloya 5 жыл бұрын
this really helps!!! TYYYY!!!
@a45williams
@a45williams 7 жыл бұрын
Cody, the man is trying to help, and all you see or hear his voice tone? The problem is not him, but you.
@christopheraiwanse5593
@christopheraiwanse5593 9 жыл бұрын
Great help!
@veronicaalarcon2045
@veronicaalarcon2045 9 жыл бұрын
I have a question: I have a table: truck 0 1 2 3 4 5 and tank 5 4.5 3.8 3.0 2.0 0 Opp Cost - - - - - - a) Compute the opportunity cost in forgone tanks for each additional truck produced: I'm taking the differences as you showed. 1 truck is .5 tanks which once divided isnt changing... what am i doing wrong?
@boondockscentral1
@boondockscentral1 3 жыл бұрын
explained very well thank you
@reybambampow3514
@reybambampow3514 6 жыл бұрын
Bro I would buy you lunch if you lived near me. Best video on here showing how to calculate OC
@FreeEconHelp
@FreeEconHelp 6 жыл бұрын
Thanks!
@edwinespinoza8236
@edwinespinoza8236 7 жыл бұрын
Very helpful for my test review!
@Mount_Miskan
@Mount_Miskan 2 ай бұрын
how do you write vertically?
@instaminox
@instaminox 7 жыл бұрын
Thanks bro! awesome video
@Muhoroj1
@Muhoroj1 11 жыл бұрын
very clear and understandable...thank you
@mainel6486
@mainel6486 8 жыл бұрын
I'm sorry but why is it necessary to use subtraction for the first problem? How is it different from the second problem? Could someone clarify this please?
@clarisfeliz3998
@clarisfeliz3998 5 жыл бұрын
Thanks so much. This helped me a lot;);)
@FreeEconHelp
@FreeEconHelp 5 жыл бұрын
Glad to help!
@qnizami2339
@qnizami2339 5 жыл бұрын
This is brilliant
@mscardioqueen
@mscardioqueen 8 жыл бұрын
Thank you Cody!
@nadnadrah5246
@nadnadrah5246 10 жыл бұрын
very helpful..TQVM
@microeco2
@microeco2 12 жыл бұрын
nice video ! well explained
@TheRailfan32
@TheRailfan32 8 жыл бұрын
Thanks for the help. Awesome!
@arrafrancia470
@arrafrancia470 9 жыл бұрын
Thanks so much!
@FucheGewgle
@FucheGewgle 6 ай бұрын
Omg! Thank you!!
@bongiwethusi7501
@bongiwethusi7501 11 жыл бұрын
NICE AND SIMPLE EXPLANATION...tanx
@ChinderElla
@ChinderElla 3 жыл бұрын
Thank you so much!!!!!
@JSandwich13
@JSandwich13 4 жыл бұрын
My lecturer explained this but it's confusing so thanks for this
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