Trade

Trade

by Antonio Marquez -
Number of replies: 1

Technically, everything in life is a trade, like you trade your time and labor for money and then that money for a product or service. So, this impacts everybody's lives, so it can't be avoided, then?

In reply to Antonio Marquez

Re: Trade

by Danny Weaver -
Great example of how trade offs are everywhere. Yes, everyone will have an opportunity cost for any given action. You cannot avoid that fact. However, as you get more productive, and the amount of things you could do with any particular hour grows, so does your opportunity cost. The goal isn't necessarily to keep your opportunity cost low relative to others, but to do the thing that results in your opportunity cost in that particular moment to be lower than the benefit of the activity you are doing in that particular moment.