opportunity cost

Opportunity cost is an economics term. It is what an individual, or a business, or a government has to give up in order to take another course of action.

This is something we all grapple with day to day, whether or not we realize it. I am choosing to spend a few moments blogging. Therefore I have chosen not to use that time to actually work on my economics course, or read a book to my kids, or many other things. If I choose to spend $20 on a Barbie for my daughter for Christmas, I can't spend that money on Lego.

I was just reading Kim's blog on the Breathe site about moving to a richer part of Kelowna and missing the North End of Winnipeg. No doubt their move was well-planned and has many benefits for them. But it had a cost.

The book I just read, Girl meets God, that I talked about in a previous post was filled with opportunity cost. Her decision to become a Christian cost her, especially in relationships. Her orthodox jewish friends could no longer relate to her in the same way.

Sometimes I struggle with opportunity cost. I want everything, I don't want to pay a price. Maybe I'd find decision making easier if I just embraced the concept and made a choice, accepting that at every crossroads I have so much to gain and so much to lose.