Opportunity cost is what you give up when you choose one option over another. In simpler terms, it is the price of choosing one thing instead of another. Let’s explore this concept in detail through an infographic guide.
Conclusion
Opportunity costs can vary for each individual. For some, going to the gym early in the morning might be beneficial, while for others, getting more sleep at that time could be more important.
Opportunity cost reminds us that choices in life are important. Every decision should be carefully considered, knowing what we are gaining and what we are sacrificing. It helps us determine our goals and what we are willing to sacrifice to achieve them.
This article is for informational purposes only. It is not investment advice.
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