Three Example Of Opportunity Cost
Should I drive for Uber today or enjoy a day off from my full time job?
Driving for Uber allows me certain things, Money in the form of earned income, money also in the occasional for of cash tips from my riders, I get to explore my town and the towns and city around me seeing new things, Driving also allows me to meet new people and occasionally form new networking nodes into different parts of business and society that I do not operate normally. The costs on not driving for Uber are that I do not earn the extra income, I also however do no spend the extra on gas for me car, and avoid the extra wear and tear on it. Not driving allow me to spend more time at home with my family or out with them doing things, not driving allows me simple down time, time that I do not have to worry about others at all, which, since I am in retail in my day job can be a big deal.
Should I eat my lunch out or make my lunch before I leave for work?
Eating out provides a quick meal, little or no effort on my part and keeps me moving during my day. If I am to bring my lunch, I need to start preparing to leave for work earlier, less sleep, find and pack an appropriate amount of either left overs to take with me, or prepare something from scratch. Then there is the cleanup …show more content…
The choice of time over money is one I think a lot of people make. It is also one that I think a lot of people make incorrectly. My time is valuable, whether I am at work or not I have a limited amount of it and there are just some things that I do not think it is worth me spending time doing. For an example, the eating out option. I cost me anywhere from $5 to $12 for lunches normally. However, if I was to spend the time doing that myself I would be working ½ to 1 hour preparing food. Just going off of what my current salary is, it is cheaper to pay someone