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Concepts: Opportunity cost, scarcity, limited resources

Background: Yassin’s mother struggles to pay for his private highschool tuition. However, Yassin’s mother and stepfather are seen spending money on other goods and services such as a birthday cake, alcoholic beverages, a dinner at a restaurant, rent, and food.

Question: Resources are limited and scarce. Define the concept of “opportunity cost” using Yassin’s situation.

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Concepts: Factors of production, entrepreneurship, tradeoff

Background: At the beginning of the series, Hakan and his friend Memo want to open their own antique shop in Istanbul from scratch.

Question: Which steps will Hakan and Memo follow to open their antique shop?

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Concepts: Tradeoff, opportunity cost.

Background: In this clip, Zeynep is offered her dream job in London. However, she is also a member of the loyals, the secret society that devotes their lives to help the protector. She finally decides to decline the job offer in London to stay and help the protector in his duties.

Question: Using economics concepts, explain why Zeynep declined the job offer in London.

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Concepts: Incentives, opportunity cost

Background: Harriet needs a piece of information that requires a government agent's help. When she asks him directly, he refuses. However, when Sami and Mustafa ask with a physical threat, he accepts.

Question: Explain in economic terms why the government agent provided differents answers to Harriet, and Sam and Mustafa.

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Concepts: Opportunity cost of time, best response strategy

Background: Eniola is campaigning to convince people to vote for her. However, as she is not the only candidate, other aspirants and their teams could potentially react to reduce Eniola's campaign's efforts.

Question: What could be some strategies Eniola's competitors could implement in this situation? Can the strategies be applied at the same time? How could they select the appropriate strategy(ies)?

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Concepts: Opportunity cost of time, labor participation

Background: Journalist Dapo Banjo decides not to investigate a time-sensitive matter, to take care of his son instead. Conciliating career and childcare is a dilemma most families must navigate.

Question: Using course concepts, discuss how having to provide childcare impacts labor market decisions.