ECON 241 Lecture Notes - Lecture 4: Precarious Work, Thought Experiment, Opportunity Cost
15 Oct 2018
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-choice about allocation of sconce resource among competing uses. -key concepts (1) opportunity cost next boost alternative forgone choice + tradeoffs (2) prices signals about opportunities (3) markets means to coordinate activity in response to signals (4) property rights. Not do well: decisions that are politically motivated, issues where motivation other than self-interest eg: love, hate, civic duty, issues primarily decided on ethical or moral basis. Modern economy participation in l markets is source of economic security. Part-time jobs short-term work, contract work, self-employment, temporary help sector. Three characteristics (i) (ii) (iii) perceived to be of lower guilty with lower wages incidence of nsw increase faster than ftfy increases part of l market incidence of nsw disproportionately higher among young workers + women. Nsw increases from25% to over 30% of total employment. 40% of women vs 27% of men in nsw. For 15-24 yrs old, 52% of men+ 64% of women in nsw. Only concerned about involuntary nsw want ftfy.
