💡Opportunity cost = the potential benefit of choosing one decision over another.

Let's say you decide to spend an hour playing video games. 🎮

That hour could have been used to study or sleep.

That's your opportunity cost! 📚💤

It's about what you give up to get something else. 💔

Opportunity cost helps us make informed decisions. 🤓

It’s not always about money, it's about choices and their consequences. 🔄

We'll never always know what the best alternative is, but opportunity cost can help us learn for the next decision! ⚖️

Let's say a business owner chose one product manufacturer over another, but they made worse products than the other manufacturer. ⚒

The opportunity cost was the quality of the product! 🥲

Now you understand why opportunity cost is a key concept in economics! 👍