Opportunity Cost: A Mental Model Explained
Every choice means saying no to something else
Example
Choosing to play video games means not doing homework, exercising, or reading
How to apply it
- scenario: You have $20 and 2 hours on Saturday
- option1: Movies ($15, 2 hours) - Can't do soccer practice
- option2: Soccer practice (2 hours) - Save $15, miss movie
- lesson: Consider what you're giving up, not just what you're getting
In kid-friendly terms
What are you giving up when you choose something?
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