Opportunity Cost
Recognize that every choice you make involves trade-offs. Evaluate the potential benefits and drawbacks of different options before deciding.
46
433 reads
CURATED FROM
IDEAS CURATED BY
Welcome, I post what i read Everything I post is in the book, I'll quote it if it's my own opinion
Help me choose which model can effectively solve problems I encountered
“
Similar ideas to Opportunity Cost
Opportunity Cost
An opportunity cost is the potential ‘alternative’ or benefit that is forfeited when one chooses a particular option.
The other, foregone option, if it is lower than other companies, is the key factor in this trade-off.
Opportunity Cost
Saying 'yes' to something automatically means saying 'no' to other possibilities. This is known as Opportunity Cost. It translates into the potential benefits that we miss by choosing one option over another.
Subconsciously we are aware that we can't do everything we want ...
Opportunity Cost Calculations
Many people and organizations fail to take into account the various opportunity costs.
- We need to actively question ourselves about the alternatives that may be missed out by deciding on a particular option.
- The often neglected cost of waiting too long is also a ...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates