BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Every decision you make comes with a price, which economists call the “opportunity cost.” Understanding it can help you become a better CFO of your life.

Detailed explanation-2: -The pleasure principle forces us to overlook our decisions’ opportunity costs. Every time you choose to do something in life, you are choosing not to do something else. This is known as opportunity cost-the possibilities you miss out on by making a certain decision.

Detailed explanation-3: -Opportunity cost is the value or benefit of an alternative choice compared to the value of what is chosen. The concept of opportunity cost is used in decision-making to help individuals and organizations make better choices, primarily by considering the alternatives.

Detailed explanation-4: -Life is nothing but a totality of conscious choices that you continuously make. Whether you want it or not, directly or indirectly, you are choosing everything. Someone else does not choose for you in your life. It is you who makes the choice.