Question

Economic decisions have opportunity costs and benefits. An opportunity cost is the potential gain that is lost when making a decision to go with one thing over another. For example, if you choose to walk rather than drive, you are losing the potential advantage of a faster mode of transportation, for the benefit of the exercise that walking provides.

Analyze the opportunity costs and benefits of economic decisions on society, on individuals, and yourself. Focus your response on how technology changed the world and its opportunity costs and benefits. Support your answer with historical and contemporary examples, including some from your own life.