RE: Opportunity Cost: an interesting economics principle
Dear @shortsegments
Interesting choice of topic.
When I studied finance in college a very important principle was opportunity cost.The standard definition is that if you use your money to buy something, or invest in something, then you cannot use that same money to buy something or invest in else, it has been spent.
I've learned about it too during my Uni days. I've called it "alternative opportunity cost" which sounds about the same. Idea behind it was simple: that we have limited resources and we can only use them in limited number of ways. Every way will cost some of those (limited) resources. And we shall use them to create opportunities, which will benefit us the most.
It's interesting that you would feel a lost for something you never owned or never invested in, but thats what economics and finance teach us to consider...
It does remind me of my wife. When she is browsing online stores - she often seem to feel that she lost something she never owned hehehe :) Especially if she sees some promotion and in her head that particular item should already belong to her.
Solid read. Upovted already,
Stay safe and have a great weekend,
Yours, Piotr
Thank you for your kind words, I think your wife illustrates that opportunity cost includes loss of joy. :)
I hope you have a safe and happy weekend.
Thank you for your kind
Words, I hope you have a safe
And happy weekend.
- shortsegments
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