Thursday, January 21, 2016

Alexis Turnage, Chapter 1, Question #1

"The real cost of something is what you must give up in order to get it, which is almost always more than just cash" (11). This stuck out to me the most because when I go to purchase an item I think about how will this help me and is it worth my money. For instance, when I was going to buy a new iPad I had to sell my old iPad first and then sell my iPod and cases. I was giving up more than just cash. I was giving up things that I didn't want to give away, yet, the things I was giving away would help me get what I wanted which was a new iPad. When Wheelan talked about buying shoes either from a store in Kenosha, WI for $50 cheaper or going to Nordstrom and paying $225 (full price) I found this to be interesting. He would have rather pay $225 than traveling 90 miles away. I previously had an experience last year when my family decided to buy a puppy. We decided to travel 55 miles to go get my dog from a breeder. We decided to buy from this breeder because they had good reviews and the puppies they had were so cute. We rather pay the higher price than the lower price because the other breeder we were considering was located 70 miles away and we didn't want to take more time out of our day.

2 comments:

  1. I agree! I found this is really interesting as well. There are costs that aren't necessarily money and we don't always think about.

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  2. I enjoyed how you referred to the text to support your claims. I also looked at how people use simple cost benefit analysis to help them make well informed decisions in their everyday lives. I also liked how you pointed out that in financial transactions money isn't the only thing that influences your decision.

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