I’m doing an economics course so my immediate response was: opportunity cost! Sigh…
“Opportunity cost” that sound technical- what does it mean? Then again I quoted something from Numb3rs to my boss he other day. I thought he didn’t understand and he did! We then talked about probability and the probability of winning the lottery. (It’s an epic sum and I actually want to work it out because I’m that much of a nerd lol)
Opportunity cost is the highest value choice you didn’t make. Obviously in economics it’s usually things like ‘if you buy a $5 slice of cake you forego two $2.50 coffees’ but it can be applied to any choice you make in life; you always give up something in order to have the thing you choose.
It would be like if I bought store own label rather than branded products I save £2.50 to spend on sweets or a crochet magazine.
Right? I think I get it lol.
How was Australia Day?
I spent it working on an economics assignment and then there was a big storm. Jelly went on a disastrous river-rafting trip and came home sunburnt and having walked rather than rafted much of the distance. We are not really into national pride…
Too true. Regrets, being resentful, jealousy – all wasted emotions too!
I try not to have regrets – I’m sure there are always the times that you go “I should have done that differently” but rather than regret it you have to think about that you have learnt something from that experience.