(July 2008). Economic cost is the gains and losses in money, time and resources of one course of action compared to another. The comparison includes the gains and losses precluded by taking a course of action, as the those of the course taken itself.Economic cost differs from accounting cost because it includes opportunity cost.o for the two to four years an individual spends in school, the opportunity cost includes the money that one could have been making at the best possible job. The economic cost of college is the accounting cost plus the opportunity cost.
In a report, the U.S. Census Bureau estimated that nearly 7 million school-age children are routinely left home alone. âDevelopmentally, children are generally ready to be home alone around the age of 12 or 13,â says Cherie Sage, State Director of Safe Kids Kansas.
Only a handful of states legislate at which age a child can legally be left home alone: Both Maryland and North Carolina prohibit children under the age of 8 from being left alone. In Oregon, it is unlawful to leave a child under the age of 10 home alone if the length of time would endanger the health or welfare of the child. A child in Illinois may not be left home alone without supervision âfor an unreasonable period of time.â