Hot Stuff's Concert

Every day, people have to make decisions to get the most out of life. Rational people always think about implicit and explicit cost and explicit cost is very simple and clear, but when we think about explicit cost, it is different. I would use the four principals to decide which concert to go to. The third principle is that people always thinking at their margin, is a chief principal that I am going to custom to write point of my view. All people think diverse and entirely people desire something differently, so no one can conclude if I am making the right decision. This topic throws me two option that I can decide. one is going to see Hot Stuff's concert or Good Times' concert. price of their ticket is equal ($150) and each concert is taking in dissimilar places. I …show more content…
I really desire to attend Hot Stuff’s Concert, and the money, time wise, and next morning Exam, is a pressure me to make wise decision, and first principal tells me that people face trade-off. I always prepare my midterm before I even attend first day of school, so I have no problem with next morning Exam. I don’t even think about this problem. Second, in time wise, I am Prepared for my exam so I have no problem attending concert that I desire. I always sleep late, I would like to sacrifices my sleeping hour to drive, and I have enough money for my gas. So, I would attend Concert that I want to watch and enjoy. The Fourth principal, People react to incentive, is an important principal that arouse peoples’ emotion to think rational before making final decision. For example, last year I attended Same concert in same place, same time led me to get a fail on my midterm and end up taking same course. than I would not attend same concert that made me take the same course twice. This principal would not stop me from attending Hot Stuff’s Concert because I never failed my exam because i did not