Sunday, July 31, 2016

Opportunity cost in attending early morning class



Opportunity cost is the value of the next-best alternative or the highest-ranked alternative, not all alternatives. In detail, resources are limited so people cannot have goods and services that they want to have. As a result, people should choose something and give up others. From this situation, the second valuable one is called opportunity cost.
           I think my opportunity cost of attending the afternoon class is that I would have less useful time to do any activities during the day because the class would be finished late compared to the morning class. On the other hand, if I choose to attend class in the early morning, I would have more time to utilize because I can have more available time and it allows me to manage my time flexible. However, opportunity cost of the morning class happens also because it would be hard for me to concentrate on the class and do other later activities by giving up some hours of sleeping.

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