4. One of the most important economic decisions a family makes is whether or not

Question

4. One of the most important economic decisions a family makes is whether or not to have children and how many children to have. A. In a society where mothers take care of their own children, what is the opportunity cost of having children? B. How does this cost change (that is, does it rise or fall) as women gain opportunities to work outside of the home and earn high wages? Remember, women in this society still take care of their own children, so they don’t hire other people to do this. C. What could a private, non-governmental organization that was based in the U.S. do to increase women’s opportunity cost of having children in developing countries where women generally care for their own children?

Explanation / Answer

A) The opportunity cost of having children will be some amount of household work that the mother is now not able to do as she now has to utilize that time to take care of kids,

B) Opportunity cost will rise as the income they miss fron the job is added to the opportunity cost.

C) This organization may start giving job to married women in developing countries will increase the opportunity cost of having children.

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