Whether you spend 10 seconds or 10 days weighing a decision, each one comes with strings attached
Every day, we have to make decisions, and each one comes at a price. This price is the benefit we forego by not choosing the other option. Economists call these benefits “opportunity costs”. Although they are often less obvious and sometimes speculative, opportunity costs can be huge. Opportunity cost isn’t cut and dry. It varies from person to person. We all value things differently, even time and money. The opportunity cost of a decision you make will likely be different than it would be for your friends and family.
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Whether you spend 10 seconds or 10 days weighing a decision, each one comes with strings attached
Every day, we have to make decisions, and each one comes at a price. This price is the benefit we forego by not choosing the other option. Economists call these benefits “opportunity costs”. Although they are often less obvious and sometimes speculative, opportunity costs can be huge. Opportunity cost isn’t cut and dry. It varies from person to person. We all value things differently, even time and money. The opportunity cost of a decision you make will likely be different than it would be for your friends and family.
Previous Article
Next Article
Whether you spend 10 seconds or 10 days weighing a decision, each one comes with strings attached
Every day, we have to make decisions, and each one comes at a price. This price is the benefit we forego by not choosing the other option. Economists call these benefits “opportunity costs”. Although they are often less obvious and sometimes speculative, opportunity costs can be huge. Opportunity cost isn’t cut and dry. It varies from person to person. We all value things differently, even time and money. The opportunity cost of a decision you make will likely be different than it would be for your friends and family.
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