HELP! Economics question? (1 Viewer)

[robbie13]

Hey guys.

Been given this question and was wondering if anyone could help?

”Since I own my own home, housing costs me nothing”. Evaluate this statement using "economics way of thinking".


Thank you in advance

 

[conor2769]

To have a wild guess lacking in the questions context. It would have to do with the "economic schools of thought." Behavioral economics in the way we choose to spend or how we act would relate to the decisions we make. However do not rule out the possibility of the house being a more highly valued asset than any housing costs such as electricity. (once again more context is needed)

 

[seremify007]

First instinct was to talk about opportunity cost.