Wednesday, February 28, 2007

Opportunity Costs

What are opportunity costs? Give some examples. And give some examples from your own life.

An oppurtunity cost is the decision you make in giving up something and buying something else. For example my opportunity cost is that if I go to college im going to lose four years of work where im going to get money, but if i graduate, Im going to earn more money since I have a better education.

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