Economics 101: Opportunity cost #economics #OpportunityCost #EconomicsConcepts #DecisionMaking
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Economics 101: Opportunity cost #economics #OpportunityCost #EconomicsConcepts #DecisionMaking
In this video, we discuss the concept of opportunity cost. We explain that opportunity cost is what you sacrifice when you choose one thing over another, whether it's money, time, or energy. We provide an example of spending $10 on a movie ticket instead of using that money for lunch, and how the lunch you gave up is the opportunity cost. We ...
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