PRESENTATION OUTLINE
IS THE MOST IMPORTANT SACRIFICE THAT RESULT FROM MAKING A DECISION.
We always face an opportunity cost, though. When we select one alternative, we have to sacrifice at least one alternative and forgo its benefits.
EXAMPLES:
- Sleep late or wake up early for a test?
- Do my homework or paly video games?
- Sleep late or wake up early for a ski trip?
At times, a decision may be unclear or complicated. Using a decision-making grid an help you determine whether you are willing to accept the opportunity cost of a choice you are about to make.
