Opportunity Cost

[Davidchris06]

Married women’s participation in paid works increased from 6% in 1900 to about 60% in 2005. Many factors contributed behind this change, including the invention and growing availability of home appliances. Explain this change using the concept of opportunity cost.

[Peter Pedant]

This is part of your course to show you understand opportunity cost

Not ours. For other punters on AB
SUppose you employ a clerk to run a jolly Jan 22 which will bring in £1000 and it takes him 4 hours
but the whole things is cancelled - well the thousand goes out of your budget for Jan 22 - so -1000 goes in the Jan 22 column, but it is NOT a loss although it looks like it
it is revenue not obtained

but there is also an opportunity cost - the clerk cd have spent his 4 hrs ( at £25 / h) doing something more productive

so....

1900 - leddy spends four hours brushing a carpet
but now spend an hour hoovering it

and that frees up three hours to produce little plastic dollies in a factory and get paid for it

or not .... I cant work up an interest

( I didnt pass this exam by the way)