Costs and Benefits

The video discusses decision-making, highlighting the costs and benefits associated with choices. It explains how decisions have both positive and negative effects, termed as benefits and costs, respectively. The video uses the example of choosing a donut for breakfast to illustrate these concepts. It also introduces the idea of external costs and benefits, which affect others beyond the individual making the decision. The importance of weighing these factors carefully is emphasized, considering both personal and external impacts.

What is one potential downside of choosing a donut for breakfast?

• It takes longer to prepare.

• It has less nutritional value.

• It is more expensive than other meals.

• It is difficult to carry.

Why might someone choose a donut over a more nutritious breakfast?

• It provides more energy.

• It is more filling.

• It is convenient and quick.

• It is healthier.

What is an example of an external cost when a new megastore opens?

• Smaller stores may lose business.

• The community gains more shopping options.

• The megastore hires more employees.

• The store's profit increases.

How can a new megastore benefit the local community?

• By lowering the cost of living.

• By providing jobs to local residents.

• By reducing traffic congestion.

• By eliminating competition.

What should be considered when making decisions that affect others?

• The speed of decision-making.

• The popularity of the decision.

• Only the personal benefits.

• Both the external costs and benefits.