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OPPORTUNITY COST ?

The opportunity cost of choosing between avocado toast and a bread omelette is the value of what you're giving up when you make your decision. If you choose avocado toast, the cost could be the satisfaction and nutrients you would have gained from the omelette. Conversely, if you opt for the omelette, you're forgoing the taste and health benefits of the avocado toast. It's a trade-off between two options, each with their own benefits and drawbacks. This depicts that how economics play an important role in our everyday decisions and influence our lives.

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THREADS VS TWITTER

Meta, launched its new microblogging platform 'Threads'. Millions of people joined Threads since it's launch on 5th July 2023, which made the app an overnight success. The app bears a striking resemblance to Twitter and is dubbed as the "Twitter-Killer". Elon Musk's Twitter filed a case against Meta, claiming the company poached former Twitter employees to create a Twitter "copycat”. Even with billions of dollars at Meta’s disposal, its long-term viability hinges on whether it can maintain user interest and relevance in the future. So, does this mean Twitter is not long for this world?

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DISHA GARG

Senior Designer, Editorial Board

Department of Economics

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WILDFIRES IN HAWAII

Dated on 8th August, 2023, sources provided estimates that the total damage and economic toll of the catastrophic wildfires in Hawaii that decimated Lahaina, a historic town on the island of Maui, is $8 billion to $10 billion. At least 93 lives were claimed by the destructive Maui blazes, CNN reports. Upwards of 1,700 buildings have been destroyed, according to Gov. Josh Green. According to CNN, the fire now ranks as the deadliest U.S. wildfire in more than 100 years, based on research from the National Fire Protection Association.

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ROHIT K.U.

Senior Designer, Editorial Board

Department of Economics

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GREEK BOAT TRAGEDY

On June 14th, 2023 the Greek Boat sank and around 700 people died, however the Titan Submarine which started as an adventure trip got more attention on the death of 5 rich people. This showed the disparity of the system towards poor and rich, where millions of dollars have been spent to rescue the rich, but for the poor, there's no such opportunity. This highlights unequal values assigned to different human lives, consciously or unconsciously, by society and governments.

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BLACK MOVIE MARKET

The economics behind the movie tickets has an effective denomination at an individual level. While, movie tickets affect the income aspect of an individual, tickets on a black marketing have more effect on consumers income.

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KRATI SINGH

Senior Designer, Editorial Board

Department of Economics

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