Gelegenheitskosten: Die versteckten Kosten von Allem

The video tutorial explains the concept of opportunity cost, emphasizing its importance in decision-making. It illustrates how opportunity cost affects the true cost of education by considering both tuition fees and potential earnings lost by not working. The tutorial further explores the financial benefits of higher education, comparing potential earnings with and without a degree. Finally, it presents a case study of a high school student choosing between studying medicine and working in a family business, highlighting the long-term financial implications of such career decisions.

What is the primary focus when considering opportunity cost?

• The time taken to make a decision

• The benefits given up from the next best alternative

• The benefits of the chosen alternative

• The financial cost of a decision

Which of the following is considered an opportunity cost when calculating the true cost of education?

• Potential earnings from working

• Living expenses

• Cost of textbooks

• Tuition fees

How do economists view the cost of a college degree?

• The cost of textbooks and materials

• Only the living expenses

• Only the tuition fees

• Tuition fees plus potential earnings lost

In the practical example, what is the monthly earning of the student if she chooses to work in the family business?

• €4,000

• €10,000

• €3,500

• €2,000

What is the total duration of the medical career considered in the opportunity cost example?

• 10 years

• 40 years

• 34 years

• 6 years