Opportunity Cost

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I am studying Economics.  I can’t say I love it but I certainly find it interesting.  Saying that, I wouldn’t mind to get it over and done with now.  I am now getting sick and tired of all the formulas, calculations, graphs and weird concepts.

One thing I learned about in Economics is opportunity cost. It works like this: we have unlimited wants and needs, but limited resources to fulfill our needs and wants.  So we have to make choices.  Every choice implies that there is an opportunity cost.

For instance.  I have R10.  I want to buy a cold drink which would cost me R6 but I also want a pie that would cost me R8.  I don’t have enough money – limited resources.  So I have to choose between the cold drink and the pie.  If I choose to buy the cold drink, the pie is the opportunity cost.  If I buy the pie, the cold drink is the opportunity cost.

Opportunity cost is the cost of the best forgone option.

Now look at this principle in a spiritual way.

The opportunity cost for time in front of the TV is time with God.  The opportunity cost of that relationship could be eternal life in heaven.  The opportunity cost of your unforgiveness and pride could be restored relationships.  We can make a long list of things here.

I think we should take serious stock of what we do and what we spend our time on.  Is it really worth it?  Is the opportunity cost worth it?

End of Economic lecture.

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