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Cost & Benefit (Write + Speak)

#EvdeKal İngilizce serisinin bu dersinde Cost & Benefit Analysis metni üzerinden writing ve speaking çalışmalarımızı yapıyoruz.

Cost & Benefit

Ders Notları

Costs and Benefits

The concept of costs and benefits is related to the rational expectations and rational choices of consumers. In every situation, people try to maximize their benefits while minimizing their costs.

If demand for beer is high, breweries will hire more employees to make more beer, but only if the price of beer and the amount of beer they are selling justify the additional costs of their salary and the materials needed to brew more beer. Similarly, the consumer will buy the best beer they can afford to purchase, but not, perhaps, the best-tasting beer in the store.

The concept of costs and benefits is applicable to other decisions that are not related to financial transactions. University students perform cost-benefit analyses on a daily basis by choosing to focus on certain courses that they’ve deemed more important for their success. Sometimes this even means cutting the time they spend studying for courses that they see as less necessary.

Although economics assumes that people are generally rational, many of the decisions that humans make are actually very emotional and do not maximize our own benefit. For example, the field of advertising preys on the tendency of humans to act non-rationally. Commercials try to activate the emotional centers of our brain and fool us into overestimating the benefits of a given item.

Kaynak

 

Writing

Kelimeler & İfadeler için Cümle Yazmak

  • rational expectations
  • to maximize X to minimize sth
  • brewery
  • to justify sth
  • to be applicable to sth
  • to deem more important
  • to prey on
  • to overestimate
  • People try to minimize their efforts and maximize their outcomes.
  • Politicians need to justify their spending because they spend public money.
  • Not all ideas are applicable to our current situation.

Özet Yazmak

What is cost and benefit analysis?

Cost and benefit  analysis means that people try to minimize their spending and maximize their return on a given item or service. However, cost and benefit analysis does not always work.

Soruya Cevap

Are humans rational in their financial decisions?

I think humans are not entirely rational in their financial decisions. It is true that people try to be rational when making certain purchases however they are not always rational. They can get very emotional and the field of advertising tries to exploit the emotional side of the human nature.

Speaking

Örnek Cümle

  • rational expectations
  • to maximize X to minimize sth
  • breweries
  • to justify sth
  • to be applicable to sth
  • to deem more important
  • to prey on
  • to overestimate
  • Studies show that males overestimate their capabilities while females underestimate their capabilities. 
  • Your solution is not applicable to this problem.
  • The teacher needs to justify his decision so that the students will follow his orders.

 

Sözlü Özet

What is cost and benefit analysis?

Cost and benefit analysis means that people try to minimize their spending and maximize their return when making purchases. This is related to the idea that humans are rational so as rational beings humans try to make use of their financial resources in the best way.

Soruya Cevap

Are humans rational in their financial decisions?

I think humans are not entirely rational in their financial decisions because if humans were rational in their financial decisions, they would not make stupid purchases. We all end up making purchases that we regret. We all end up buying things that we do not need and generally we are affected by ads, we’re affected by TV commercials, we’re affected by newspaper or outdoor ads. Ads prey on our emotional nature and they manipulate us so in that regard we’re not entirely rational in our financial decisions but of course there are times when we are more rational and there are times when we are irrational.

 

 

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