Opportunity Cost: The Hidden Cost of Everything

Business - B1-B2 | Intermediate Level

4.9 $

Jan. 19 Mon , 08:00 USA

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Description

In this session, we will explore the concept of opportunity cost and why it is called the hidden cost of everything. You will learn how every choice has trade-offs and how to identify what you are giving up when making decisions. By the end of the session, you will be able to recognize opportunity costs in your daily life and make more informed choices.

Session Activities

Question 1: Do you think money is the most important factor when making life decisions? Why?

Question 2: Have you ever regretted choosing one option over another?

Question 3: Have you ever faced a choice between a safe option and an exciting opportunity? What did you do?

Question 1: Do you agree that opportunity costs are often hidden? Can you give an example?

Question 2: Is the tuition and living cost the most important factor in choosing a university? Why or why not?

Question 3: How do you think personal happiness and life satisfaction fit into opportunity costs?

Question 4: Would your decision change if the family business might fail in the future?

Question 5: Can opportunity costs ever be purely financial, or are there always non-financial factors?

Question 6: If you were advising the student, what would you suggest and why?

Question 7: What is more risky: spending money and time on education, or starting work early?

Forego

to give up or do without

Speculative

based on guesses rather than certainty

Bite the bullet

make a difficult choice

Weigh your options

carefully think about choices before deciding