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Lesson 2

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by

Leon Ackerman

on 16 March 2016

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Transcript of Lesson 2

Opportunity costs and Budget
Contents
Multi-deployability
Budget
Opportunity costs
1
A compromise is an agreement reached by people who have different needs and ideas.
Pablo and John cannot come to an agreement, because the minimum price that Pablo wants for his dog is higher than the price John is willing to pay for the dog. This means that there is no price to which they can both agree.
2A
The possible price for the Xbox One ranges from €300.00 to €400.00.

B
The factor that influences the negotiation between Anna and Bertha is time. Because Bertha has a lack of time, she is willing to accept a higher price than she would if she had the time to negotiate.

C
The factor that influences the negotiation is communication skills. Anna uses intimidation to her advantage in this negotiation. This will lead to a higher price which Anna will receive for her Xbox, because Bertha is intimidated by Anna. Through the intimidation Bertha is not able to keep a strong position during the negotiation.
Something is
multi-deployable
when it can be used for different purposes.


What is multi-deployable?

Time
Money: Budget
Materials
Opportunity costs are what people sacrifice when choosing one option over another


Option Benefit

Example
Budget: € 20
Price of chocolate bars: € 1
Bottle of soda: € 2
4A
This negotiation is influenced by credibility. Igor has a good reputation of being honest and of knowing a lot about computers. So Julius is more likely to accept the price that Igor wants for the computer, as Julius beliefs that Igor is telling him a fair price that corresponds to the value of the computer.

B
In this scenario, Julius does not know that Igor is trustworthy and knows a lot about computers, so he is not going to believe as easily that Igor is asking a fair price for his computer. Julius will, therefore, try to lower the price for the computer to a price that he thinks is fair.

5A
Wrong. Communication skills will help someone in negotiating to reach an agreement that is better or more advantageous for him.

B
Wrong. Other factors, such as time, information, authority, etc. play an important role in influencing the negotiation. The presence of these factors can change the amount that the two parties have to give in. It is possible that two parties have to give in equally, but it is very likely that the amount they have to give in differs per party.

6A
The factor that influences this UN negotiation is authority. The United States has a much higher authority than the other countries, as the USA is a bigger and wealthier country.

B
Guinea-Bissau, Tanzania, Niger and Sierra-Leone will probably have to accept the full border control, because the USA has higher authority. This means that the other countries have to agree to what the USA wants, because it is more powerful.
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