HOW TO USE OPPORTUNITY COST CALCULATION IN YOUR LIFE

By paystubs at 6 days ago • 0 collector • 6 pageviews

Many times, we seem to have to choose between two things. And there is always one trade-off or the other to make. And we never have all we want because everything in life has an opportunity cost.


Opportunity cost is otherwise known as forgone alternatives. It is the value of that which you have to give up in place of another. It is an economic term or concept that describes the art of better decision-making in life and other situations.


Besides opportunity cost being an economic concept, is there a way to use this type of calculation in your life? Keep reading to learn more.


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