Ellis's budget shows a problem. His weekly expenses average $10 more than his earnings. Ellis works 5 days a week and every day on his way to work, he spends $2.50 on hot chocolate. Will cutting out the hot chocolate help Ellis balance his budget?

Yes, it will solve the problem

Explanation:

Given that Ellis is deviating from his budget by an amount of 10 dollars. This means that he need to reduce his weekly expenses atleast 10.

Now it is given that he spends 2.5 dollars on drinking hot chocolate when he goes for work. And it also mentioned that he works 5 days a week.

Saving from hot chocolate = 2.5$ per day

Saving from hot chocolate = 12.5$

Since the saving with hot chocolate is 2.5$ more than the target, hence this would bring him back in the budget

0.05

Explanation:you can multiply 10 and 5 and then you divide 2.50 and the answers of 10 and 5

this is an outline for the decisions that frankie is going to make

opportunity cost

willingness to buy

price or quality

of course, there could be many economic strategies that should be considered important while making decision. opportunity cost is the foremost significant factor while considering any economic option. when you buy something, you should know how much you are forgoing for this product. indeed, you could buy something different with this measure if you changed your mind. willingness to buy shows how much surplus you are earning while making a decision. it is important because it shows you buy what you want or you buy because you have only limited amount of money. the price or quality can be considered as a general economic option that we are applying while buying something. when you buy something, price or quality could be one of the options. indeed, they define the characteristics of the product.    

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