Nothing Comes Without a Cost
Why does everything have a price
In the grand scheme of things, every action carries a price. You may have thought that your friend had already covered the price for indulging in that free burger. Yet, what you might not have realized is that you made a distinct payment as well — investing your time in eating and conversing with the friend who treated you. This expenditure of time meant sacrificing the chance to engage in other activities you might have preferred, such as watching movies, indulging in video games, or devoting more time to career-related pursuits like intensifying your job search. If you’re taking an economics class, this example may sound familiar, as this concept is called Opportunity Cost.
To provide a more in-depth illustration, envision having a big presentation due tomorrow. While stepping outside for a breather, you notice a stand with an extensive line. Intrigued, you decide to investigate and learn that the establishment is distributing complimentary pizza. Anticipating the wait, you reckon that obtaining the free pizza would consume about an hour of your time. Should you decide to queue up for the pizza, you would essentially be sacrificing the chance to finalize your presentation. With an hour already lost, you might discover the need to sacrifice sleep later in the evening to create extra time for completing your project. Regrettably, this…
