set up a yoghurt ice cream store after 'A' level exams-pdg 35/12 group

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set up a yoghurt ice cream store after 'A' level exams-pdg 35/12 group

opportunity cost of not setting up the stall

loss of opportunity to gain valuable entrepreneurship skills through experience.

loss of opportunity to experience setting up your own business(entrepreneurship)

each choice leads to its respective opportunity cost

or not to set up the stall

to set up the stall

opportunity cost of setting up the stall

given up an opportunity to pursue higher education in a good university eg NUS, stanford

result in loss of opportunity to pursue a prestigious career eg doctor, lawyer

loss of opportunity to serve society in a better way as i have the credentials, but instead chose to set up a stall to sell certain products. eg: become a doctor to help patients with medical conditions etc

given up opportunity to experience university life

scarcity

however, there is a scarcity of stores selling yoghurt ice cream, thus there is an opportunity to generate new demand for my product as it might appeal to consumer's taste and preferences(beneficial to health) and consumers have higher purchasing power

there is a relative abundance of stores selling ice cream, thus there is no scarcity of ice cream in amk hub.if i set up a stall this might lead to losses as there might be in sufficient demand and high input costs( high price of milk)