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The Concept of Opportunity Cost in Economics
Opportunity expense becomes football. You created your choice based on the advantages and the price. Sure you could’ve possibly produced a lot more cash with football. But the advantage of deciding on a safer sport outweighs the cost of not getting paid as a lot. See you thought like an economist and chose the choice that had the ideal benefit and the lowest cost… Or you could pull a Bo Jackson and do each. An additional example would be if you get a craving for pizza. But lets say your a tiny weird and Homerun Inn Pizza is your favorite sort of pizza. Let’s say that you’re also extremely lazy and do not really feel like creating pizza. So you order Pizza for delivery. Even though pizza via delivery is more pricey and you do not enjoy is as much it was nonetheless worth it. The cost of spending more funds for much less excellent pizza outweighs the horror of actually doing some thing and making your own pizza.
Type: Free Essay Example
Level: Business School
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