Saturday, June 13, 2015

The Opportunity Cost

In everyday life, we are bound to find moments where we have to make decisions and some decisions requires sacrificing something in return for something greater. In the world of Economics, there is such thing called, The Opportunity Cost. According to Google;

The loss of potential gain from other alternatives when one alternative is chosen.

My Microeconomics lecturer had given many examples of Opportunity Cost occurring in everyday life, and some even happen in the simplest thing that we do. For instance, There will be a test tomorrow and you can either choose to study as soon as you get home, but your friends suddenly invited you to hangout with them and go to the movies. Which one are you going to choose? Every choice has it's consequences, and in real life, there is no telling which is good and which is bad, it depends on how you see it. But let's put it down this way, if you choose to study, there is a huge possibility that you will do well on the test, but you would missed out a great night with your friends. But if you choose to hangout with your friends, you wouldn't probably do so well in the upcoming test. Now don't lie to yourself, everyone has definitely went through these kinds of situations, and the story that I am about to share with you all is somewhat similar to this case.

It was the typical day that I had that day and as usual, my favourite time of the day in lunch time because it's my daily make out session with food. The friends that I usually sit on lunch was stressing out that finals are approaching and the class that we were about to have after lunch was the last Statistics class for this semester and they decided to skip lunch. This often happens and what I would normally do is wrap my food from the cafeteria and eat in class while I watch them study. But one of my very good friends, Galuh & Arif asked me if I want to eat lunch with them, now i know a thing or two that they often eat at places outside of campus and would often be in class a bit late due to traffic on their way back.

So there I was, torn between two choices. Which should I choose? Should I endure the adventure or should I stay on the safe zone? I thought of it for a while but then I think, hey I want to have some fun. We went out to a steak restaurant and thank heavens for good weather that day. There was definitely something in taking a long drive though the semi-suburbs area that we drove by and it felt nice to just simply embracing the moment and jamming into the songs that blasted out of the radio and for once, I wan't sick of the same songs over and over again that were in the top 10.

So there you have it folks, my little adventure with friends and we ended up skipping class btw. Well, class was cancelled so eventually, I made a pretty awesome choice of not going to class and going on a adventure. In general, we pretty much gotta make choices everyday and sometimes some decisions costs you more than just time, but for whatever decision that it, I wanna make sure that it makes me feel like I am living my life that way I like it.


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