4min chapter

Time and Attention cover image

71: Tradeoffs

Time and Attention

CHAPTER

What Is Opportunity Cost?

An opportunity cost is what we give up in return for doing what we do, or making the decisions that we make. It's a good way of thinking about all the hidden costs of doing something beyond just the price tag. If i want to go o movie, for example, i'm going to pay 15 dollars for that ticket, but it's also going to cost me two hours of time. So out a movie cost? No, i think so. I feel like we always buyer with seam points, so i haven't paid for a movie n forever. But really, ike, the opportunity cost is not just what you could have spent that other 15 dollars with, which could be

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