Quote by OPPORTUNITY COST - Deepstash
OPPORTUNITY COST

Every choice has a cost—what you give up by not choosing the alternative. Understanding opportunity cost ensures that resources like time and money are allocated efficiently, optimizing decision-making and prioritization.

OPPORTUNITY COST

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talhamumtaz

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Learn to Evaluate Life Choices Via the Lens of Opportunity Costs

  • You live in a world where you must therefore make choices. You cannot avoid regret since there are opportunity costs for every choice you will make.
  • Everything in life is about opportunity costs. Every time you say “yes” to a choice, you are also saying “no” to everything else you ...

The costs of indecisiveness

  • Not taking action can cost you an opportunity, or cost money and time as you delay.
  • People waiting for you to make a decision can get frustrated.
  • You can feel stress about your indecisiveness, and stress about how you’re making people wait.

Importance and Risks

Opportunity cost calculation is essential to individuals, corporations and governments, where there are decisions to be made regarding limited resources like time, money and effort. Choosing one of the scarce resources always leads to a trade-off in gains.

It is important to a...

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