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opportunity cost is when you could have purchased one thing over another

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Opportunity cost is a trade-off, meaning you exchange one thing for something else. Opportunity cost can affect personal financial decisions, such as repairing your old car and saving some money or buying a new car and spending more money.

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When you chose something over something else. maybe what you need over what you want.

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Opportunity cost is when you have to choose between two options both having a weight to them.

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Opportunity cost is what is given up when making one choice instead of another.

Opportunity costs might affect ones financial decision because you choose one with great benefits but then you have to give up something else to receive the opportunity.

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Opportunity Cost is what is given up when making one choice rather than another.

Opportunity cost can affect your financial decision, which can affect all aspects of your life. Maybe you choose to apply for one job instead of another. The other job may pay better, but you more enjoy the one you applied for. You're giving up a possible higher paycheck.

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Opportunity cost can change what we do with our money because we could spend money on one thing or choose to save up for another.

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Opportunity cost i s when you do some thing but doing that thing costs you to not be able to do the other thing. This may affect your personal financial decisions for example if you go to the movies with some friends you might miss out on going to dinner with another friend.

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Opportunity cost is when you trade off when making a financial decision.

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Opportunity cost is giving something up when making decisions. It is also called a trade-off. This could affect personal financial decisions because whatever you choose could lead you into troubles with finances.

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Opportunity cost is a trade off a decision makes. If you choose to go to school you may not be able to get a job. The job is the opportunity cost, the cost it takes to do something in either lost wages, happiness, or experience. This might force you to make compromises that effect your financial planing.

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Opportunity cost is the trade off when making decisions. When you are making a personal financial decision and the opportunity cost is too big, it could make you not go through with the decision. To achieve happiness, you have to have opportunity cost in mind and decide what you need more.

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Opportunity Cost is the trade-off made whenever you make a decision. It includes all of the rewards as well as the losses one receives from his/er decision. When making a personal financial decision, you should consider the opportunity cost. The rewards and losses you get would impact your decision.

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An opportunity cost is similar to a trade-off. When you choose to make one decision instead of another it is described as an opportunity cost, because you are enjoying all the benefits of the thing you chose but you are also seeing some of the costs for not choosing the other thing. This could affect your financial decisions, because when you deal with your finances you need to make decisions on how you will spend your money, and there will be opportunity costs when you decide to spend it on one thing and not the other.

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Opportunity Cost: What is given up when making one choice instead of the other. One must make personal financial decisions by taking opportunity cost into consideration. You must determine if the benefits of something are greater than what you give up to chose it.

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Opportunity costs can change how we make financial decisions because we have to think about and choose what we want and what we have to give up in order to achieve our goals.