Opportunity Cost Example

Here’s a great opportunity cost example.  Opportunity cost is the value to you of what you give up when you make a decision.  Economic costs are opportunity costs.

With that in mind, from @Flother2 on Twitter:

There have been zero [COVID-19] cases in the Canadian territory of Nunavut so far. On the other hand, there’s a danger of polar bears.

Polar Bears opportunity cost example

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About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.