The Office in United Kingdom - Movie Review Example

Economically speaking, the opportunity cost is defined as "the cost of something in terms of an opportunity forgone or the most valuable forgone alternative" (Opportunity Costs 1). In The Office, it is apparent that Jim Halpert foregoes the opportunity of securing better working alternatives when he continued working for Dunder-Mifflin Paper Company.It is estimated that the budget allocated to the war reaches $1 trillion which could have been used to finance economic and social projects such as livelihood, housing, and education.

Thus, the opportunity cost of going to war can be stated as the social and economic benefit which could have been derived from the investments in socio-economic projects. 2. Law of Supply and Demand The issue of downsizing has been recurring in the episodes of the TV show. It should be noted that downsizing stems from the fact that the supply of labor in the economy is much higher than the actual demand requiring some adjustments through employee lay-offs.The same issue is faced by employees in the nation.

Trade liberalization has eliminated national boundaries facilitating the mobility of jobs and investments. Business process outsourcing has become a trend channeling jobs to other countries where the cost of labor is lower like China, India, and the Philippines thereby lowering the demand for labor in the United States. Recently, the customer service department of large business organizations like Dell, HP, and IBM has been deployed in these countries lowering the demand for US labor. This movement in demand changes the equilibrium by decreasing supply through downsizing.