Opportunity Cost by Eric Burtch by https://padlet.com/burtchyboy/5ddjsjl1i8cr My research on Opportunity cost for Money Management en-us 2016-11-26 17:38:46 UTC 2025-10-04 20:32:46 UTC hello@padlet.com Welcome to "Opportunity Cost" burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139980559 Hello, in this Padlet I will be discussing Opportunity cost and its role in our lives. The best way to describe Opportunity cost is, that it is a component of business that refers to a situation where a person has multiple options and forgoes the seemingly better option for a different course of action. It essentially represents the benefit, or Opportunity, that was given up to take an alternative route. In this Padlet you will find an in-depth description of Opportunity cost and some of the different situations it comes into play in. ]]> 2016-11-26 18:14:11 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139980559 A relatable situation for Opportunity Cost burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139983670 2016-11-26 19:21:30 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139983670 Large purchases burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139985366 Opportunity Cost of Owning a Home ]]> 2016-11-26 20:02:52 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139985366 Is there always an Opportunity cost? burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139985630 2016-11-26 20:09:49 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139985630 Opportunity costs in the Government burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139986387 Politicians should be counting opportunity costs of the ‘daycare dilemma’ ]]> 2016-11-26 20:26:42 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139986387 Make sure to weigh every option burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139986807 2016-11-26 20:37:12 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139986807 "The cost of the decision we didn't make" burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139987138 The $100 Billion Opportunity Cost]]> 2016-11-26 20:44:56 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139987138 Trade-offs VS Opportunity Costs burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139987502 Tradeoffs and Opportunity Costs ]]> 2016-11-26 20:54:19 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139987502 The Effect of our choices burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139988269 Canadian retailers poised to raise prices amid slumping loonie ]]> 2016-11-26 21:14:34 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139988269 An important view from an Industry Leader on Opportunity Costs and Economics. burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139988494 Triple Aim and Economic Analysis: Opportunity or Opportunity cost? - Jeffrey Hoch ]]> 2016-11-26 21:22:10 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139988494 Opportunity Costs by Eric Burtch burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139988746 Opportunity Costs and What it is
GNED - Money Matters Assignment 2 ]]> 2016-11-26 21:30:51 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139988746 Reflective Questions burtchyboy https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139990296 Question 1: While researching Opportunity costs, I was surprised to learn that they are associated with every decision and choice we make in our day to day lives. I always thought that it was only relatable to business economics but now I know that even in situations like choosing which pizza place to order from, there are opportunity costs associated with my choice that must be considered. As I continue with my day to day purchases I will take a closer look at the benefits and downsides of each before I walk to the counter. 
Question 2: If I were to try and use the concept of opportunity costs in my life, I would reference balancing studying/ homework and videogames/ procrastinating. Like most students, through my day I am constantly nagged by the feeling of being lazy when presented with homework that must be completed. When I begin to procrastinate, I stop myself and begin to consider what benefits I could be attaining from starting my homework early and leaving goofing off till after I’m finished. From this, I usually end up benefiting from putting down the TV remote and starting my homework right away and feeling less stressed afterwards because of it. 
Question 3: During this project I would say the information on purchasing a home vs renting was the most interesting to me. I found this, because it was directly relatable to my life and held a lot of interesting information that I had not previously known. As I continue to get older, I try to educate myself on the best practices for adult responsibilities and how to avoid making dire mistakes that can lead to future mishaps. I think that after this project I will continue to research the opportunity costs of purchasing vs renting to be better prepared for the future.]]> 2016-11-26 22:19:30 UTC https://padlet.com/burtchyboy/5ddjsjl1i8cr/wish/139990296