1. Although there are many example of cost opportunity in my everyday live, the one that i experience the most relates to school: to actually do my homework or spend that time doing something else instead. Even though it may not be the most significant decision I've had to make, it still has a huge impact on my life. I could be doing homework and retaining the information or I could be watching Thursday night's new TV episodes, even though the decision is an easy choice, sometimes it is worth it to have a day off and not worry about homework. The gain of choosing homework is having your work done, potentially giving you time for TV later, and also helps reassure you of what you are learning. Doing something else may benefit you by giving you the time to think, maybe reading a book or watching a movie. This is not the most significant example yet has a domino effect on my life. I believe that the risk, in this situation, should not be taken. I would rather get what I need to done and have that dictate the time I have for the free time I have. Opportunity Cost when it comes to money has a much bigger ripple through lives, yet this concept can still be implemented to almost any everyday situation.
2. In the future I will come across many positive and negative Opportunity Costs. One example is having to choose a job. After college is over searching for a job will become a number one priority. Having two jobs in mind I will have to decide which one I like better, comparing both pros and cons, and which one will benefit me the most in the long-run. Having to decide is I want the job that meets by requirements better or the one that gives better overall coverage seems to be very difficult. Not knowing how either job choice will unravel leads to a major decision in Opportunity Cost.
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