Concept
Version 10
Created by Boundless
Individuals Face Opportunity Costs
Opportunity Cost
By choosing to go to spend time and money on things like classes and computers, you are necessarily choosing not to spend it on something else, like going on vacation. This is an opportunity cost.
Source
Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:
"Caneel Bay Turtle Bay Beach 4."
http://commons.wikimedia.org/wiki/File:Caneel_Bay_Turtle_Bay_Beach_4.jpg
Wikimedia
CC BY-SA.