Explain how the concepts of scarcity, choice, and opportunity cost relate to your dilemma. In my dilemma the concept of scarcity relates to me because I don't have a lot of time in highschool left. My choice is to do my schoolwork for the next day before i go out, so I can hangout with my friends as well as finish my tasks. The opportunity cost is big for me because these are my best friends and I really want the chance to see them and spend quality time before I move away and we part our ways in college . When making a decision, are the costs and benefits equally important to you? Why or why not. Based on your chart, explain which category, costs or benefits, would have the largest impact on your decision? No, the costs are far more critical to me than the benefits in light of the fact that my schooling at last starts things out. So when I saw the Expense or cost being my education I chose to remain back and complete every one of my costs before I will go out and see my friends. So generally speaking the costs had the greatest effect on my choice. Based on the chart and your responses to the above questions, what will be your final choice? Write a brief paragraph with at least three details to persuade your instructor that this is the best decision. This is ultimately the best decision ,because I get to spend time with my friends as well as finish my assignments ahead of time ,so it's not in the back of my mind throughout making the last few memories of highschool with my friends.