Say you intend to watch a football match but the tickets are expensive and it will take you a couple of hours to get to and from the stadium.Why not,you might reason,watch the game from home and use the leftover money and time to have dinner with friends?This—the alternative use of your cash and time—is the opportunity cost.
dge of what one must forgo—in terms of money and enjoyment—in order to take it up.By knowing precisely what you are receiving and what you are missing out on,you ought to be able to make better-informed economic rule of all:there's no such thing as a free lunch.Even if someone offers to take you out to lunch for free
Some people find the idea of opportunity cost extremely discouraging:imagine spending your entire life calculating whether your time would be better spent elsewhere doing something more profitable or enjoyable.Yetdisadvantages of decisions all the time.
In the business world,a popular phrase is“value for money.”People want their cash to go as far as possible.However,another is fast obtaining an advantage:“value for time.”The biggest restriction on our resources is the number of hours we can devote to somethingrn,however,this passage will help you to think like an economist,closely considering the opportunity cost of each of your decisions.
【语篇导读】 本文是一篇说明文作者通过生动简洁的例子向读者论述了经济学家提出的“机会成本”的概念。
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