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Monday Mojo – Your Opportunity Cost!!

11 January 2010 No Comment

ScreenHunter_11 Jan. 12 00.02

Pic by Kharied

My father always told me to wake up everyday to do great things. One thing we all have in common is 24 hours and how we spend it is totally up to us! You can spend wasting time doing foolish things or you can make every second, minute, and hour count towards the future. Use this time frame to inspire, impact, and help people in a positive way!

In economics, the term opportunity cost is used to described as, The cost of an alternative that must be forgone in order to pursue a certain action (Dictionary.com). In other words, it is it is the benefit of performing an alternative action. For example, tonight I was in class (the benefit), when I could have been at the movies watching Avatar. I still haven’t seen the film, but attending class is more beneficial to my future. This is how I schedule my time…I usually have two options, when it comes to my schedule (even if the other option is simply to take a nap). At the time of scheduling I have to place a value on my time and choose the event that has a greater marginal benefit.

How will you spend your time and will you waste it with foolishness? I hope not…cause I’m not!

-J


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