3 possible examples of the Opportunity Costs about a person would face if he/she were to...

3 possible examples of the Opportunity Costs about a person would face if he/she were to join a branch of the Military Service (i.e. Army, Navy, Air Force, Coast Guard, Marines). Be specific and give details.

Expert Solution

OPPORTUNITY COST- opportunity cost refers to the cost of substitution good or chance you let forgo for the consumption of some other goods or services.

opportunity cost which a military personnel would face if he/she would have been in military service.

LEISURE AND DUTY- either the person can be enjoy the company of his friends and family, while working for any desk job say - bank, insurance sector or he can sacrifice such comforts and can join military where he / she occasionally gets to meet his family and friend.the one would be considered as the opportunity cost for the another.
LIBERTY VS STABLE JOB- a person may remain unemployed and can enjoy his / her liberty as per the will, or he/ she can join the army where they would have to be remain in decent discipline environment but would be getting a predetermined and timely salary. the one would be considered as the opportunity cost for the another.the person working in the army will get periodical vacations and this can be the opportunity cost in context with compare the private jobs.
EXPENSES VS ALLOWANCES- either a person can get settled on a private job where he might have to spend on the children education , health benefit and insurance plan , retirement fund contribution and other services which might be considered as an expense for them or he can join the military where education of the children, insurance , retirement is generally planned and financed by the government of the country.the one would be considered as the opportunity cost for the another.

therefore while working with the army for your country a soldier have to make indifferent choices as per the opportunity cost concept and the truth can't denied that a soldier have to make several sacrifices while taking care of the family as well as the prevention of the country.

Rahul Sunny answered 7 months ago

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