The technology-related cost of going to school

What's In my bag: School editionAccording to an article in the Daily Telegraph, it now costs £550 for  child to go to school, compared with around £230 in the 1960s and £250 in the 1980s. This is because of the number of gadgets included in the pupil’s school bag, compared to earlier times. The article says:

Today, while the cost of lunchboxes, calculators, and pencil cases have come down, the rise in demand for technology means parents face having to find a small fortune for the Back to School rush.

What a ridiculous, non-news article!
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M is for … Marginal Cost

Marginal Cost, like Opportunity Cost, is a concept used in Economics. It’s so useful, I’m surprised it isn’t used more often, or at least more explicitly, in general. It definitely comes into its own in the world of ICT or education technology.
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O is for … opportunity cost

DecisionsOpportunity Cost is a key concept in Economics, and is tremendously useful outside that discipline. It is especially pertinent in the sphere of education technology. It is defined as: the next best alternative foregone.

Unlike the more familiar idea of financial cost, opportunity cost can change its value according to both contextual and subjective factors.<

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