How to calculate opportunity costs

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How to calculate opportunity costs

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Күн 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.freeeconhel...

Пікірлер: 209

@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 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 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 6 жыл бұрын

Thanks!

@CeynteShow 5 жыл бұрын

me too, that was helpful.

@melissavincent7952 7 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 7 ай бұрын

Me too!! I am way dyslexic! This helped me a lot!

@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 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 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 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 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!!!

@oliviatiritilli5800 8 жыл бұрын

People like you make the world a better place! thanks for the help!!!!

@adriannaz3898 4 жыл бұрын

I struggling about 2 hours with this question!!! This video save me life!!!!!!!!!!!!!!!!!!!!!!!!! Thank you so much!!!

@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 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!

@narutofan4545 8 жыл бұрын

thanks pham missing a whole week of macro really did a number on me

@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

@jannices.a6228 9 жыл бұрын

I FINALLY GET IT! Thank you this is extremely helpful!:)

@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!!!

@lenaayon737 Жыл бұрын

you are the real MVP. Thank you

@valentinacaravelis8484 5 жыл бұрын

This was very easy and helpful. It makes so much more sense now thanks

@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❤️

@sepandjazzi 2 жыл бұрын

8 years late, but this is awesome!!!

@sourovajmain2048 3 жыл бұрын

That Per hour example really saved me. Thank you

@fredielyncunanan3942 8 жыл бұрын

You made my life so much easier. You are heaven sent! cant thank you enough.

@gabrielsanchez1285 8 жыл бұрын

You look like you are heaven sent too ;)

@dancinglikecrazy5510 4 жыл бұрын

I dont understand why i wasnt understanding how to calculate this but now i do thanks

@elicezanker 6 жыл бұрын

Thank you so much, you've made it so easy to understand. Super grateful!

@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!

@billiereyes1 12 жыл бұрын

THANKS SO MUCH BECAUSE I WAS SO CONFUSED BUT NOW YOU HAVE GIVEN ME CLARITY :-)

@butterpecanrican_ 2 жыл бұрын

OMFG I COULD CRY RIGHT NOW. THANK YOU. 😭😭😭😭😭

@emmacho2580 9 жыл бұрын

Thank you! you explained much better than my professor.

@michellearellano5091 11 ай бұрын

Great video!! Helped teach me what my professors couldn’t

@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

@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

@romero2g4u 10 жыл бұрын

OMG! This is so SIMPLE! Thank you!

@AVANID-ld3zs Жыл бұрын

This was so incredibly helpful and so easy to understand

@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 :')

@IJayhonI 11 жыл бұрын

You sir are a life savior!

@dzezud7674 2 жыл бұрын

I can't believe it can be this good

@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 6 жыл бұрын

Thanks!

@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 😅

@MrLittledirector 6 жыл бұрын

What a Top Class Legend you are! Only you could explain it properly

@FreeEconHelp 6 жыл бұрын

Thanks!

@bryceholevas6749 8 жыл бұрын

this just made my life so much easier

@kamakazebunny 8 жыл бұрын

Great video and example. Got confused reading my notes, so I had to look this up. lol

@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.

@joaquinzanabria9859 4 жыл бұрын

thank you for this!! truly helped me before my Macro Quiz! Bless!!!!!

@kvsrajeev 10 жыл бұрын

Thanks much for sharing your knowledge on youtube.

@chrisem060591 9 жыл бұрын

This was very helpful! I get it!

@Filming-and-Stuff 9 жыл бұрын

Extremely helpful - thank you

@pupumipubx9584 8 жыл бұрын

Thank you so much. I understand O.C a lot better now.

@Ikelley124 11 жыл бұрын

Wow you make it so easy to understand, thank you!

@staceyjezek1828 11 жыл бұрын

Made it SO easy to understand! Thank you!

@ukareben3297 Жыл бұрын

Thank you so much. It help me to understand.

@fatimamitu4809 3 жыл бұрын

thanks for this video! Helped me a lot

@JSandwich13 5 жыл бұрын

My lecturer explained this but it's confusing so thanks for this

@AGloriousLife 11 жыл бұрын

OMG! Thank you for explaining this so clearly!

@mohmudgaryare6024 5 жыл бұрын

Thank you so muchhhhhh, i have a quiz today and i was really confused.

@FreeEconHelp 5 жыл бұрын

Good luck!

@Kenzinru 3 жыл бұрын

Man you are the awesome. thanks for the help.

@smilgadp 8 жыл бұрын

Thank you very much for sharing this video! All the Best

@ruthgomez9288 8 жыл бұрын

love your voice GOD bless you

@xbuzzedx 10 жыл бұрын

Sounds like Chris Griffin

@FreeEconHelp 10 жыл бұрын

thanks? :)

@ToriAndDada 10 жыл бұрын

Free Econ Help you really do sound like chris griffin , but thanks that was extremely helpfull

@carnoises86 6 жыл бұрын

Michael a little

@felixojunekwu7753 6 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.

@thecrunchyrunner5321 8 жыл бұрын

This is so helpful thank you so much!

@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?

@mesaketadulala9720 9 жыл бұрын

thanks alot mahn, truly helped on an economics tutorial (Y)

@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?

@boondockscentral1 4 жыл бұрын

explained very well thank you

@DjDestoza 11 жыл бұрын

What if i have to calculate combination C?? What do i subtract? Take the Chair column! I can see 5,5 but at the last row, what do i subtract with? You instant reply may save my day!

@sacsac18 9 жыл бұрын

Wow. Great method!

@thebiermanbrothers6241 3 жыл бұрын

Soooo helpful thank you so much my man! God bless!

@bongiwethusi7501 11 жыл бұрын

NICE AND SIMPLE EXPLANATION...tanx

@lauryn7490 6 жыл бұрын

This helped so much thank you

@shroomamiii 4 жыл бұрын

this is so helpful thank u!!!

@MA-rc2eo 5 жыл бұрын

Thank you man you saved me.

@kekenhawak 3 жыл бұрын

What if you a different numbers when you substract the numbers of chairs? What will you do?

@Bradlyhowland 8 жыл бұрын

Very helpful video - thanks for sharing.

@hasibsaayed603 4 жыл бұрын

Very Helpful! Thank you!

@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.

@harrywu630 4 жыл бұрын

Thank you so much, that's very helpful

@Eadrene 12 жыл бұрын

Thank you so much. This is absolutely amazing.

@Astuslinux 4 жыл бұрын

Wonderful nice professor .well explained ... thanks alot

@christopheraiwanse5593 9 жыл бұрын

Great help!

@Skim3431 11 жыл бұрын

you're a life saver. Thanks

@Muhoroj1 11 жыл бұрын

very clear and understandable...thank you

@arrafrancia470 9 жыл бұрын

Thanks so much!

@edwinespinoza8236 7 жыл бұрын

Very helpful for my test review!

@Ferdinaand 7 жыл бұрын

Great, helpful video !

@aaqilhussaini8474 8 жыл бұрын

great your method rocks !!

@makatlehomoorosi2461 2 жыл бұрын

This is what I learned in class but more easier

@user-gz4kk3lk9g 2 жыл бұрын

great video! thanks !

@qnizami2339 5 жыл бұрын

This is brilliant

@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 ?