What Is Opportunity Cost?

[@rutusayswhat]

"Because our time is valuable, any decision we make has a cost."

[@sagartandon647]

Hmm

[@felipecruz171]

@@sagartandon647 my exact reaction.

[@cocolin5534]

Ur comment made me question if I should be studying rn 😂

[@Hussainaminshah776]

Proud to be indian

[@imarah15]

My book made this concept so much more complicated. Thank you for making it easier to understand.

[@freezingmaster5141]

watching this has messed up my youtube recommendations for good.

[@IATube]

Haha, just click on the three dots and then "I'm not interested". If you didn't know. Edit: I realized I'm replying a year later.

[@sberry-milk]

Tell me how this 3 minute video explained this to me when half a semester in my econ class couldnt :/

[@josuezuzunaga3258]

same here...

[@flashallen2298]

please don't tell me u spent half a semester on Opportunity cost 😂

[@KuntChitface]

Bro to sum this shit up 10 months later :you waste time pursuing things that won't entirely benefit you. I'm going on a spiel. Be aware of: what your not aware of. If you specialize in one or two things for instance you may be better off. If you REALLY need a job, you'll get a job right? But if you know that job sucks, youll get a better job if the opportunity presented itself, correct? But there is one big trap that lies on this idea! That if you keep jumping from job to job, you will defeat yourself in the end professionally in the end because you never specialized. Anyone can do the trades, but if they don't master one trade-do they really get ahead? General principles to think about: Efficiency, make more for less, etc. If everyone did everything themselves, like cook food for for instance, would the restaurant industry exist? Fuck. People can cook their own food but they don't want to. In fact, Im a mechanic and welder and I can't use my own garage. Guess what? I have to swallow my pride and get my car fixed somewhere else and get the problem solved FOR THE SAKE of getting that car moving and usable. Opportunity and precedence is valuable. I know someone who has jumped from coal mining to coal power plant building to house building to car mechanics all because he isn't happy after 7-8 months with what he does. Just because you do everything doesn't mean you should, you waste time pursuing things that won't entirely benefit you.

[@roshnipillai4656]

@@flashallen2298 that's what😂😂

[@Victoria_Orlova]

3 minute video has better opportunity cost xd

[@danielluzzio5111]

I want to hug the person/people who made this video

[@victorix30]

I learn here more than in university

[@amnaymehlaoui8553]

hahah yes sure

[@nelsonerivan]

Yeah

[@aayushpandey9764]

Are you kidding me, I am being forced to learn this in Grade 9!

[@musicaddictzz]

Lol yeah😂 tomorrow i had a economics exam and i learn from here not lectures🥴

[@bigbird_norm8437]

Aayush Pandey I am forced to learn this in 5th grade

[@RidhoIbrahim]

Ann with her “fishy fish” and Bob with his “banana”. Mkay

[@learningbeing7608]

LoL

[@Lotto188]

Damn 💀

[@suhani551]

Thank you!! I am currently in high school taking up basic economics for extra credit 💖

[@NionioGR]

The banana - fish example is more about comparative advantage vs absolute advantage.

[@johnnyjacksted6528]

What kind of example would you have given instead?

[@ouessa8706]

My first time commenting on Lecture video on KZbin :p THANK YOU ! I've been stressing over this. IDK why professors like to make things look complicated even tough they're super easy?

[@carolinesemele9066]

I red but i couldn't understand and i had to go over and over until decided to watch your videos that made it easier with just a single watch. Thank you so much. Keep up with the good work.

[@BlaxKid22]

My university used this resource to teach me economics.... this is free. The opportunity cost of me going to university is me traveling the world debt free and living in a tiny house.

[@vinayak186f3]

Welcome to another episode of I learnt more from this than from my Uni 🤣

[@MartaniPanganSehat]

Nice animation great explanation. Thank you. I like that Ann is a Fisher woman and Bob is the farmer.

[@aryastark9601]

great explanation

[@rabinarayan1740]

Next best alternative 🙋🏻‍♂️

[@am_tawana_09]

Thank you for explaining it

[@channgaihoi8480]

Is the opportunity cost the highest valued option forgone?

[@chido5038]

Glad I found this video of yours

[@joelkisker5916]

Thank you MRU! Easy to understand and well presented. You've got my sub :)

[@wonganisimwaka7912]

Very easy to understand.

[@ValidatingUsername]

In our dystopia, society DECIDES what the cost is secretly instead of it being organically decided based on supply and demands.

[@bgiv2010]

Do people walk around with concepts of comparative value like that?

[@eruick047]

Thank you Hashinshin

[@assamteabyvinay]

Opportunity cost and PPC are same?

[@TheBullOfLewisham]

Sunday 5th May 2024. 15.12pm. Thank you. 👍

[@XAE_A_Xii]

if a devoted dad have a choice of going to work or visit her child's performance in school, the opportunity cost of choosing the second option would be the money he could earn at work (if only paid for working hours), less travel, stress.

[@OlyaSummers]

I gave up 15 minutes of trying to understand this term by reading a book to later understand this concept in under 3 minutes on KZbin. Damn.

[@japhetzila6235]

Very explicit video. Thank you!

[@chasityclark3880]

I learned this way better then how my Econ professor explained it…

[@mcuriesium7347]

Am I the only one who is doing this because a girl (brother zoned me) has asked me to write a long ass essay on opportunity cost, and I have no idea what it is.

[@halarefaie8675]

Ann kinda looks scary but i get it

[@adam20037]

thank you a lot, it is easy to understand, brilliant.

[@philip7056]

got it thank you!

[@tjd110]

excellent animation, simple, fun and helps make the point)

[@jude6446]

very good

[@slowsolo77]

Thank you. It helps me a lot better.

[@IATube]

Well explained!

[@phuntshoteechophel6375]

Making notes from this video is easy

[@epicfail.795]

Thanks .,

[@yal2983]

i just searched how to write "opportunity" in right way

[@harinianandan4380]

ma'am could you also do one on short run and long run cost curves?

[@thathorneyhorse1586]

big up this vid posted on my bday

[@srinutippana]

great video

[@yupthatspureexotic1559]

Nice! Professor Lin HERE I COME

[@palgul8825]

Bon and Ann are freaking scary!

[@zm987]

LOL

[@rahulbasurey1937]

Wow its amazing

[@shubham7844]

Well you tried to merge two concepts of micro economics and trade section. Opportunity cost from micro economics and absolute advantage from trade section.

[@knowledgeispower3862]

i think this is the best defination of opportunity cost

[@madhuvanthisubramanian5957]

Super explanation

[@shalemraj8556]

Superb

[@freedagatz11]

man this was the video, this was the one.

[@fwwryh7862]

Bob still working and refusing to retire, costs the jobs of 10 young people.

[@user-nw2jk4xy1w]

THANK YOUUUUUUUUUUUI

[@TfNeb_]

Can you not use the minecraft theme song to bring back memories that make me cry thank you

[@davin2386]

I dint hear Minecraft music

[@BrianRamirezIAteASock]

@Neb DUDE I RECOGNIZED THAT AND I WAS LIKE WHY DOES THIS SOUND SO FAMILIAR AND THEN IT HIT ME AND THE NOSTALGIA

[@TfNeb_]

@@BrianRamirezIAteASock Big sad

[@josephrabah4966]

Because our time is valuable, any decision we make has a cost.

[@jhoncena1111]

In this example we can't determine if Ann is slower at retrieving bananas, or faster at retrieving fish than Bob. There's no time variable. All we know is it's more efficient to have Ann utilize her time to fish.

[@jos6y2j]

University shrunk down into a 3 minute video.

[@amarjeetvarya9672]

Bob needs to men up

[@luckedout2131]

What is monetary cost?

[@hassanhashimi9250]

it was good

[@Shotbyschu]

Can someone give me a summary of what happened in the video?

[@RR_DM]

generally, whatever is sacrificed in lieu of another action (i.e. work instead of study) FML

[@powercsm7240]

NICE VIDEO LOL

[@bobfranklin2572]

This is why you rarely see Raigeki in Yugioh

[@chuckitaway466]

Anne is good at fishing

[@shrutijaiswal6901]

Best

[@yutorieasmith689]

Like it

[@naya6030]

Anne is a goated fisher

[@walter1554]

Don’t get it.

[@cesarromero2391]

🤪

[@tomwilson9685]

Am I the only one that picked up that intro is the same as the OG Minecraft trailer soundtrack?

[@ds74878]

It's like driving out of your way to buy cheaper gas.

[@JackDamjien77]

My dad.

[@frstchan]

This is why I end up doing nothing. Because I have too many ideas & options.

[@musashahid123shahid4]

👍

[@minhtrang8437]

Wow

[@aryastark9601]

Ann scared the shit outta me

[@kalapaharmia2038]

Awesoooooommmmememmememmemeememme

[@0scillator]

this video has the same music as the Minecraft trailer

[@reedtriesstuff]

yo there intro is the same as the original minecraft trailer

[@wunderwaffeyt4077]

The frame rate of your video is killing me

[@Mordex134]

No way ann catching 30 fish 😅

[@mistwolf360]

Thanks, I have a test 😭😭😭

[@awful_cat4499]

the intro song is minecraft trailer song

[@adrian2004tgm]

Ayahn and Bahb, ayand then we haeyave

[@FlamingBasketballClub]

What happened to the two professors?

[@ethann09]

Suiiiiiiiiiiiiiiiiiiii

[@dominickbisignano9931]

Why couldn’t she just still trade with her self

[@katilynbell5875]

I always struggle to understand the practical, real world application of just collecting the fish and bananas

[@mattdavis7450]

Let Bob Cook

[@SAOP196]

LOL

[@jonsonsigamala]

Bob and Anna are very scary

[@carltonblend]

FOR THE ALGORYTHM

[@workinprogress4322]

banana fish

[@opalixh398]

Oi... K hrethiamlo nasa ltk😑

[@Somaoracle]

keipekkk...XD

[@yumnaminhaj9949]

Ann looks kinda scary ...or is it just me...

[@sandeepvk]

I have banana 🍌 which is peeled what's my opportunity cost ?

[@laxmisoni7258]

Ann is creepy, so is Bob!

[@denizyazici5535]

Silly men eat purple donkeys tomorrow

[@codenameeaglecooldown900]

Why are women always loss? 3 fish? Because she's a woman?

[@Papiiimitch]

I hate economics so much