1. ECONOMICS 1

2.  BASIC LEARNING OBJECTIVES  SCARCITY  OPPORTUNITY COST  CHOICE  PRODUCTION POSSIBILITIES FRONTIER  EXCHANGE

3. Ali and Ahmet in Eylülville  Eylul Ville is a small university town where there are available apartments for students to rent. The apartments vary according to rent and space (number of rooms). The students have the opportunity to rent an apartment alone or share the apartment with a roommate

4.  Ali is a freshmen student in the Faculty of Business. He is looking for a place to live. He has limited money because he has two brothers and a sister who are younger than him. In his high school years he has worked part-time in summers as a janitor in hotels. Ali begins to look for an apartment. He also checks out the student postings for roommates. After his investigation, he sees that the average rent is 350 YTL a month. Given his limited monthly average income, this is very high for him. So he decides to move in with a roommate.

5.  In one of the postings he found that Ahmet is looking for a roommate. So he goes to the address which Ahmet gave. Ahmet is a sophomore student in economics department. They begin talking and they get along well. The rent for Ahmet’s apartment is 400 YTL including utilities. Ahmet is good cook (he serves Ali home-cooked cookies and tea) but the house is a mess.  Ahmet also likes Ali. He thinks they could be roommates. Ali leaves Ahmet’s apartment saying that he will inform Ahmet about his decision as soon as possible