Xeco 212-a New House Readiness
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A New House-Readiness
XECO212
Axia College
A New House-Readiness
Which of the 10 principles do you think plays a major role in your decision?
The first principle that plays a major role in my decision is number two that explains that the cost of something is what you give up to get it. She has come to realize in having her first child that space is an issue and she needs a bigger home. She will have to give up what she knows she can afford for the long term benefit of being able to raise her family in a home more tailored to her needs, not necessarily her budged. She is now faced with more responsibility and will have to prioritize the most important things to stretch her hard earned money and take the unnecessary things out based on the opportunity cost. The third principle would also be included due to what she may have to sacrifice to get what she needs. She needs to look at how much her current apartment is and what the cost of the new apartment will be and determine if it is worth it to get something bigger. She may however make marginal changes by going with what she can afford for now, and overtime, move into a bigger place as her budget permits. The 7th principle will play a part in the decision making process here because without her property rights she would be liable to lose her home, but with the government at hand they are there to help promote the home-owner market and provide efficiency and equity. The marginal cost will affect her newly upgraded home due to the fact that when the market economy becomes too over-populated and new properties are in demand , the new ones will bear the cost of building the house or apartment. The marginal benefit would affect the cost of the good or service by how the need for a larger home would be in demand. She is faced with a lot of life altering decisions. Having a baby means change and she is realizing that she just needs to cut out the extra spending and focus on her family. She will need to...
XECO212
Axia College
A New House-Readiness
Which of the 10 principles do you think plays a major role in your decision?
The first principle that plays a major role in my decision is number two that explains that the cost of something is what you give up to get it. She has come to realize in having her first child that space is an issue and she needs a bigger home. She will have to give up what she knows she can afford for the long term benefit of being able to raise her family in a home more tailored to her needs, not necessarily her budged. She is now faced with more responsibility and will have to prioritize the most important things to stretch her hard earned money and take the unnecessary things out based on the opportunity cost. The third principle would also be included due to what she may have to sacrifice to get what she needs. She needs to look at how much her current apartment is and what the cost of the new apartment will be and determine if it is worth it to get something bigger. She may however make marginal changes by going with what she can afford for now, and overtime, move into a bigger place as her budget permits. The 7th principle will play a part in the decision making process here because without her property rights she would be liable to lose her home, but with the government at hand they are there to help promote the home-owner market and provide efficiency and equity. The marginal cost will affect her newly upgraded home due to the fact that when the market economy becomes too over-populated and new properties are in demand , the new ones will bear the cost of building the house or apartment. The marginal benefit would affect the cost of the good or service by how the need for a larger home would be in demand. She is faced with a lot of life altering decisions. Having a baby means change and she is realizing that she just needs to cut out the extra spending and focus on her family. She will need to...