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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