S E3: Core Principle 2 - The Opportunity Cost Principle - Or What?
Think Like An Economist
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Opportunity Costs Are So Fundamental Decision Making
Time and resources are scarce, which is what the opportunity cost principal highlights. You should only spend an extra hour studying economics if the benefits are at least as large as that next best alternative. The scarcity of these resources imply that you'll always face trad off when you're making decisions.
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