Questions: Consider an organization dedicated to helping low-income people. The members of the organization are discussing alternative methods of aiding the poor, when a proponent of one particular method asserts: "If even one poor person is helped with this method, then all our time and money would have been worth it." If you were a member of the organization, what reply best represents clear economic thinking? This attitude: A. ignores the fact that the cost of helping that one person has an opportunity cost of what those funds could have been used for to help other people. B. acknowledges the importance of considering all the alternatives. C. recognizes the fact that since the organization is a charity, there is an opportunity cost based on the square root of other peoples' needs. D. is the most logical because it is focussed on helping even one person.

Consider an organization dedicated to helping low-income people. The members of the organization are discussing alternative methods of aiding the poor, when a proponent of one particular method asserts: "If even one poor person is helped with this method, then all our time and money would have been worth it." If you were a member of the organization, what reply best represents clear economic thinking? This attitude: A. ignores the fact that the cost of helping that one person has an opportunity cost of what those funds could have been used for to help other people. B. acknowledges the importance of considering all the alternatives. C. recognizes the fact that since the organization is a charity, there is an opportunity cost based on the square root of other peoples' needs. D. is the most logical because it is focussed on helping even one person.
Transcript text: Consider an organization dedicated to helping low-income people. The members of the organization are discussing alternative methods of aiding the poor, when a proponent of one particular method asserts: "If even one poor person is helped with this method, then all our time and money would have been worth it." If you were a member of the organization, what reply best represents clear economic thinking? This attitude: A. ignores the fact that the cost of helping that one person has an opportunity cost of what those funds could have been used for to help other people. B. acknowledges the importance of considering all the alternatives. C. recognizes the fact that since the organization is a charity, there is an opportunity cost based on the square root of other peoples' needs. D. is the most logical because it is focussed on helping even one person.
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Solution

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Answer

The answer is A.

Explanation
Option A: This option highlights the concept of opportunity cost, which is a fundamental principle in economics. It suggests that resources used to help one person could potentially be used more effectively to help more people. This perspective encourages evaluating the best use of limited resources to maximize the impact.
Option B: While acknowledging the importance of considering alternatives is valuable, this option does not directly address the economic principle of opportunity cost, which is crucial in this context.
Option C: This option introduces an arbitrary mathematical concept (square root) that is not relevant to the economic discussion of opportunity costs and resource allocation.
Option D: Although helping even one person is a noble goal, this option does not consider the broader economic implications and the potential to help more people with the same resources. It lacks the economic analysis of opportunity cost.
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