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Solman- opportunity cost

by Joe Calhoun

Length=4:58. Paul Solman attends a Boston College football game and asks fans how much they would be willing to accept in order to give him their tickets. He uses their answers to illustrate the concept of opportunity cost. He interviews Mary Stevenson who explains that opportunity cost is the single most important concept in economics. It is all about the choices we make. Even wealthy people only have 24 hours in a day. Robert Solow provides his perspective on opportunity costs. Benjamin Franklin wrote 250 years ago that time is money, which is an application of the concept.

Solman- opportunity cost

Length=4:58. Paul Solman uses a Boston College football game to illustrate opportunity costs. He also interviews Mary Stevenson, Nobel Laureate Robert Solow, and Benjamin Franklin for their perspectives.

from Paul Solman Videos: Opportunity Cost (2006)
Creator: McGraw-Hill
Posted by Joe Calhoun