Thursday 29 December 2011

Opportunities and What They Cost

One of the fundamental concepts in economics is that of opportunity cost. In order to understand opportunity cost, though, we need to take a step back and think about costs in a more general way. The standard example goes like this: I like books, so I want to turn my passion into a job and [...]

Source: http://thebadeconomist.com/2011/12/23/opportunities-and-what-they-cost/

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