(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.
Here are some things to consider when deciding if your child is old enough to be home alone without a sitter: 1  Generally speaking, a child must ne 12 years of age or older before you are legally permitted to leave him home alone for any period of time. Generally speaking, a child must ne 12 years of age or older before you are legally permitted to leave him home alone for any period of time. 2  In some states and municipalities this may be different, and before you even consider doing so, check with your local law enforcement agency to know the laws.