Non-monetary Opportunity Costs
Opportunity costs are not always monetary units or being able to produce one good over another. The opportunity cost can also be unknown, or spawn a series of infinite sub opportunity costs. For instance, an individual could choose not to ask a girl out on a date, in an attempt to make her more interested by playing hard to get, but the opportunity cost could be that they get completely ignored, which could lead to other opportunity costs.
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Famous quotes containing the words opportunity and/or costs:
“At no time in history ... have the people who are not fit for society had such a glorious opportunity to pretend that society is not fit for them. Knowledge of the slums is at present a passport to society—so much the parlor philanthropists have achieved—and all they have to do is to prove that they know their subject. It is an odd qualification to have pitched on; but gentlemen and ladies are always credulous, especially if you tell them that they are not doing their duty.”
—Katharine Fullerton Gerould (1879–1944)
“Pride can go without domestics, without fine clothes, can live in a house with two rooms, can eat potato, purslain, beans, lyed corn, can work on the soil, can travel afoot, can talk with poor men, or sit silent well contented with fine saloons. But vanity costs money, labor, horses, men, women, health and peace, and is still nothing at last; a long way leading nowhere.—Only one drawback; proud people are intolerably selfish, and the vain are gentle and giving.”
—Ralph Waldo Emerson (1803–1882)