Opportunity Costs

Opportunity Costs are the costs that we pay when we decide to give up something in order to do something else. We usually always have to make a decision between two different things and the things that we give up are usually also the things that in our perspective might benefit us the less. For example, when we go out to buy food and have to decide to buy something nutritional for more money, instead of buying junk food for less, we are going to lose something that would have benefited part of us in some way. If I decide to buy the nutritional food instead, my cost is not being able to eat something that I enjoy the most. I guess there are always opportunity costs in the everyday things that we do, not only related to economics.