LIBRARY
UE: ECO 110HA: Economics for Life: Entrepreneurship & Using AI to think critically about side hustle while in college
Small Businesses: Making Better Business Decisions
Should you start a Business? Ask AI?
Can your business make an economic profit? Economic profit takes into account all opportunity costs associated with a business.
For example, you are thinking of offering hair cuts to other college students. Your parent cuts hair for a living, and you have learned a lot from helping out at the shop.You think you could earn some extra money to help pay your college costs. What are some of the costs, and benefits to think about?
How can you decide? You can brainstorm with an AI, like Claude!
Have a real-world Economics for Life Discussion - see link, for a transcript, below.
-
Should I start a Haircut business in my dorm?Real life example of using an AI to think about the opportunity costs, sunk costs, hidden costs and more of starting up a business while in college.