Opportunity Cost; Gas Cars vs Electic Cars

Opportunity cost is defined as the benefit that could have been gained from an alternative use of the same resource. There are many things in the world that can display this. I chose to talk about cars that use gas to run, versus cars that use electricity to run.  Gas powered engines are only 20 % efficient, the remaining 80 % from gasoline cars is lost to heat. Gas cars have a high opportunity cost since gasoline is very expensive nowadays and the price is only getting higher, due to scarcity and the fact that gas is a limited resource. Many people drive cars with larger engines and people live further from their work because they have easy access to transportation. This causes them to refill their gas tanks more often. All this gas coming out of car exhausts creates pollution in the environment which adds to global warming. Another resource of transportation is the electric car. Electric cars have the same features as gas cars do; speed, air conditioning, navigation systems, abs brakes, cruise control and airbags. Electric cars now use lithium-ion batteries which are eco-friendly, meaning they are not considered toxic waste and can be recycled. They are smaller, lighter, last longer and have a better recharge capability. Due to the fact that they are eco friendly and only need to be plugged into an outlet to be recharged, they have a low opportunity cost since they benefit the environment in the long run and avoid people refilling their gas tanks. This is how electric cars have a higher benefit than gasoline cars.

 Hydrocarbons + nitrogen oxides + carbon dioxide+ carbon monoxide coming out of a gas car's exhaust
 
 Inside an electric car