Opportunity Costs

In your own words, explain what economists mean when they talk about opportunity costs. What are opportunity costs? Give some examples. And give some examples from your own life.

Opportunity costs is the outcome we end up with when giving up something to gain something bigger. Economists talk about opportunity costs because they invest their money hoping to make a profit out of it. Many teenagers start exercising and eating healthy when they want that perfect body. They give up fast food and junk food hoping to gain the ideal body. I also experience opportunity costs in my own life. I would drink a bottle of water every night before I went to bed, therefore causing my bladder to be attended to and disturbing my sleep. I stopped drinking water before I went to bed and with that I gained a good sleep. With my good sleep I am able to become a jolly person and spread holiday cheer.