Electronic/World Wide Web>Internet Article:  Harford, Tim (2018-04-06), Judge the value of what you have by what you had to give up to get it, Retrieved on 2018-05-05
  • Source Material [timharford.com]
  • Folksonomies: economics time time management costs

    Memes

    05 MAY 2018

     “Judge the value of what you have by what you had to gi...

    The principle of an opportunity cost does not at first glance seem hard to understand. If you spend half an hour noodling around on Twitter, when you would otherwise have been reading a book, the lost book-reading time is the opportunity cost of the tweeting. If you decide to buy a fancy belt for £100 instead of a cheaper one for £20, the opportunity cost is the £80 shirt you could otherwise have bought. Everything has a cost: whatever you were going to do instead, but couldn’t. [...] ...
      1  notes