Description
Q1
Jonny is planning his schedule for the weekend. One of his friends has invited him to a two-day camping trip to Catalina. Another friend has offered an invitation to binge watch the Lord of the Rings movie trilogy (extended edition) on Saturday. His cousin has invited him to a weekend beer tasting festival. Lastly, his uncle has invited him to a weekend of Dungeons and Dragons.
Why might Jonny not be able to participate in everything this weekend? Is there a concept (or concepts) in Economics which best describe Jonny’s situation? If so, please list this concept(s) and describe completely.
