One practical step
Problem SolvingDescribe an option's opportunity cost
Identify a limited resource such as time or budget.
- Time: Not specified
- Cost: Not specified
- Impact: Not specified
- Difficulty: Not specified
- Evidence not rated
Done when
Know what you give up by choosing it.
Identify a limited resource such as time or budget.
Who this is for
For ordinary choices; not everything needs a monetary value.
Why this matters
You can see competing uses of the same resources.
How to do it
An original activity to try, adapt or skip for your circumstances; outcomes are not guaranteed.
- Identify a limited resource such as time or budget.
- Name the alternative you cannot pursue if you choose this.
- Compare the forgone option with your reasons without double-counting alternatives.
Evidence and references
There are no references for this item yet.
Last reviewed: · Version 2