{"id":8521,"date":"2021-05-14T16:59:30","date_gmt":"2021-05-14T13:59:30","guid":{"rendered":"https:\/\/mozartcultures.com\/en\/?p=8521"},"modified":"2021-05-14T17:39:35","modified_gmt":"2021-05-14T14:39:35","slug":"econ-101-opportunity-cost","status":"publish","type":"post","link":"https:\/\/mozartcultures.com\/en\/econ-101-opportunity-cost\/","title":{"rendered":"ECON 101: OPPORTUNITY COST"},"content":{"rendered":"

MONEY OR LIFE?<\/h1>\n

About a month ago, my friend, Enver told me he earned cash day trading on cryptocurrencies. I became curious and asked him how much he earned. He earned about 100 dollars in total trading from 6:00 am to 5:00 pm, non-stop.<\/p>\n

Working that much and gaining some bucks sitting\u00a0 11 hours in front of the computer is really an earning?\u00a0 No.<\/del><\/p>\n

This is why I should be writing about the most fundamental theory of economics,<\/em> the opportunity cost.<\/strong><\/p>\n

\"Project<\/p>\n

(photo of opportunity, google)<\/p>\n

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Individual first<\/h2>\n

The concept that created all microeconomics then developed to higher grounds and formulated macroeconomics is about the be written.<\/p>\n

 <\/p>\n

\"The<\/p>\n

What does opportunity cost<\/strong> mean?<\/p>\n

Opportunity\u00a0cost<\/span>\u00a0is the\u00a0value<\/span>\u00a0of what you lose when choosing between two or more\u00a0choices<\/span>.\u00a0After you<\/span>\u00a0choose<\/span>,\u00a0you are feeling<\/span>\u00a0that the choice you’ve made will have\u00a0way better<\/span>\u00a0results<\/span>\u00a0for you\u00a0in any case<\/span>\u00a0of what you lose by making it.<\/p>\n

As an\u00a0investor<\/span>, an opportunity taken a toll<\/span>\u00a0implies<\/span>\u00a0that your\u00a0speculative<\/span>\u00a0choices will always have\u00a0quick<\/span>\u00a0and future\u00a0misfortune<\/span>\u00a0or gain.<\/strong> On a\u00a0fundamental<\/span>\u00a0level,\u00a0usually\u00a0<\/span>a common-sense concept that\u00a0financial specialists<\/span>\u00a0and\u00a0investors<\/span>\u00a0like to\u00a0investigate<\/span>.<\/p>\n

Common sense<\/strong> has a huge role in social sciences. All evidence states that humans are irrational but economists tend to believe otherwise.<\/p>\n

People are rational, motivated by their logical actions (A classical economist).\u00a0<\/em><\/p>\n

However, opportunity cost comes as an undivulged<\/strong> subject to talk about the most rational choice.<\/strong> This theory consists of one element, the selfishness of mankind.<\/strong><\/p>\n

 <\/p>\n

(The Selfish Giant + MP3 CD (YLCR-Level 1<\/i>\u00a0https:\/\/www.kitap365.com\/kitap\/the-selfish-giant-mp3-cd-ylcr-level-1\/88960.)<\/p>\n

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Examples<\/h3>\n