preview

Babysitting Benefits

Satisfactory Essays

If I was in the daughter’s position, I would settle to for what I would be paid elsewhere. It is a first come first serve basis. In lecture, it was explained that people face trade-offs, meaning that one has to give up something in order to get something (Larcher, 2017). So what are people are doing when requesting a babysitter is, if they request a babysitter they have to give up something, which is money. Nothing is actually free according to lecture, so something has to been given for someone to receive a babysitter even if it means them giving up their money or me giving up my personal time that I could have spent on something else (Larcher, 2017). This is tied into with the concept of opportunity cost. According to the textbook, the definition …show more content…

In the case of the babysitting service, for me the opportunity cost of me choosing my parents even though I do not have another babysitting job is giving up possible free time I could have to practice my instruments, do homework, or do anything else I have planned for that day. So, babysitting for zero dollars would be free for them, but it would still cost me. On another note, choosing whether to babysit for my parents or someone else, depends not only first come first serve but it also depends on price. According to lecture, price determines who gets what (Larcher, 2017). So, if I use first come first serve like I usually do, I would have to consider price. For example, if someone comes to me and asks me to babysit for about fifteen dollars an hour, I will not accept fifteen dollars an hour if my parents come to me with the same price. I will not really have much to gain if I go with my parent’s offer. So, they would have to give me a reason to choose them by raising the price. I do not think it would make sense to switch something for the same thing, and it would also waste my time because I would have to cancel on the other party even though I agreed to babysit for them. The only reason why I would consider settling for less is if it came at some convenience to

Get Access