Quotes & Sayings About Opportunity Cost

Like winds and sunsets, wild things were taken for granted until progress began to do away with them. Now we face the question whether a still higher 'standard of living' is worth its cost in things natural, wild and free. For us of the minority, the opportunity to see geese is more important than television. — Aldo Leopold

Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else. — Dan Ariely

After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity costs don't show up on financial statements, but have cost us many billions. — Charlie Munger

ECONOMISTS POINT OUT THAT THE QUALITY OF ANY GIVEN OPTION can not be assessed in isolation from its alternatives. One of the "costs" of any option involves passing up the opportunities that a different option would have afforded. This is referred to as an opportunity cost. — Barry Schwartz

In the end, robots do things that people can do. So there is a cost above which you can hire somebody to do it, and that bounds the opportunity. — Colin Angle

And I saw just the other day, in Mentor, Ohio, where a father told the story of his 8-year-old daughter, whose long battle with leukemia nearly cost their family everything had it not been for the health care reform passing just a few months before the insurance company was about to stop paying for her care.
I had an opportunity to not just talk to the father, but meet this incredible daughter of his. And when he spoke to the crowd listening to that father's story, every parent in that room had tears in their eyes, because we knew that little girl could be our own. — Barack Obama

Rather than street crime, I argue that a better analogy is to voting. Having a high opportunity cost of time - resulting, say, from a high-paying job and a good education - should discourage people from voting, yet it is precisely those with a high opportunity cost of time who tend to vote. Why? Because they care about influencing the outcome and consider themselves sufficiently well informed to want to express their opinions. Terrorists also care about influencing political outcomes. Instead of asking who has a low salary and few opportunities, to understand what makes a terrorist we should ask: Who holds strong political views and is confident enough to try to impose their extremist vision by violent means? Most terrorists are not so desperately poor that they have nothing to live for. Instead they are people who care so deeply and fervently about a cause that they are willing to die for it. — Alan B. Krueger

Satan is so much more in earnest than we are
he buys up the opportunity while we are wondering how much it will cost. — Amy Carmichael

I was accorded the opportunity to learn by failing - albeit at the cost of a few honourable teachers' sanity - and now I realise what a rare and incredible luxury that is. — Arabella Weir

They have concluded that it is their duty to rush forward on their journey no matter what the weather; I, on the other hand, am for waiting for favourable wind and current. They are for risking all for God at the snap of a finger; I am for taking advantage of every opportunity to secure my life and estate. They are for holding to their ideas even though all the world would be against them; I, however, am for religion insofar as the times, conditions, and my safety allow it. They are for religion when walking in rags and abuse; I am for it when it walks in silver slippers, in sunshine, and with applause. — Cheryl Ford

Does affirmative action place minority students in colleges where they're likely to fail while depriving other applicants of the chance to attend the most challenging schools where they are capable of succeeding? Does rent control drive up the cost of housing, depriving property owners of the same opportunity to profit as any other investor while driving down the quality and quantity of the housing stock? Do minimum wage laws reduce the number of entry-level jobs, making it harder to escape from poverty? Because compassion, by its nature, subordinates doing good to feeling good, these are questions the warm-hearted rarely pursue. — William Voegeli

He says presents aren't important, but I think they are - not because of how much they cost, but for the opportunity they provide to say I understand you. — David Levithan

Obviously, consideration of costs is key, including opportunity costs. Of course capital isn't free. It's easy to figure out your cost of borrowing, but theorists went bonkers on the cost of equity capital. They say that if you're generating a 100% return on capital, then you shouldn't invest in something that generates an 80% return on capital. It's crazy. — Charlie Munger

"Oil remains fundamentally a government business. While many regions of the world offer great oil opportunities, the Middle East with two-thirds of the world's oil and the lowest cost, is still where the prize ultimately lies, even though companies are anxious for greater access there, progress continues to be slow." — Dick Cheney

Falling prices are driving renewable energy investment in India, which rose 13 per cent last year and is expected to surpass 10 billion dollars in 2015. Adoption of increasingly cost-effective renewables holds the genuine promise of a new age of socio-economic development, powered by clean, increasingly decentralised, and sustainable energy. The opportunity for India is tremendous. — Adnan

Every breakthrough business idea begins with solving a common problem. The bigger the problem, the bigger the opportunity. I discovered a big one when I took apart an IBM PC. I made two interesting discoveries: The components were all manufactured by other companies, and the system that retailed for $3,000 cost about $600 in parts. — Michael Dell

Think about all the time, brainpower, and social or political capital you continued to spend on some commitment only because you didn't like the idea of quitting. — Steven D. Levitt

Deny a man pleasure, the possession of woman's body and he will show you his true colors.
He will dismiss his frustration onto her, forcibly abuse her, offend her all at the cost of his desires, the fulfillment of his this basic appetite. And if you are not yet convinced then award him the opportunity of having her unconscious and observe what he does henceforth.
He would consider the situation to be in his favor and make most of it.
No, he wouldn't be tender then, you are mistaken, he would be insidious much like a wild animal set loose, unleashed and untameable that is what he would really be.
Or lure a woman with the riches of the world and she will prove to you, her infidelity. And that is how people are, antagonistic when forced to come in terms with denial, authoritative if the situation demands them to be and hypocrites, their naked faces unanimously declaring a common color, black. — Chirag Tulsiani

I feel constantly the tension of the quarterly cycles, the drive to produce shareowner value at the cost sometimes of customer value and employee value. [But] if you take equal care of the employees, they will take equal care of the customers and then we will get an equal or better opportunity for our shareowners. — Marilyn C. Nelson

There is an opportunity cost for everything we do. This is why we must have the awareness to ensure that what we are pursuing is really what we value, because the pursuit leaves countless lost opportunities in its wake. We choose one experience at the sacrifice of all other experiences. — Chris Matakas

This must surely be one of the most astounding documents ever presented to an Ally when engaged in a life and death struggle. For it imposed what was really a veto on the best opportunity of cutting the common enemy's life-line and of protecting our own." By acquiescing to such an outrage, Liddell Hart contended, the British General Staff were essentially "accessories to the crime," that crime being that the British in Egypt had now been given no alternative but to await another assault on the Suez Canal, and to then launch their own attack against the very strongest point of the Turkish line - the narrow front of southern Palestine - an approach that was to ultimately cost them fifty thousand more casualties. — Scott Anderson

It is the good fortune of the affluent country that the opportunity cost of economic discussion is low and hence it can afford all kinds. — John Kenneth Galbraith

I wanted to throw myself into an experience that was too big for me and learn in a way that cost me something — Jamie Zeppa

PROFITS AT THE BOTTOM OF THE PYRAMID | Idea in Brief 105 words THE PROBLEM Multinational firms' socially beneficial ventures in low-income markets need to earn profits if they're to command corporate resources, but operating in the black is harder than it looks. THE SOLUTION Companies can use the authors' "opportunity map" to design and undertake ventures at the bottom of the pyramid that match their capabilities and financial expectations. THE DETAILS The map sorts ventures according to cost and complexity by analyzing two key challenges in selling to the poor: changing consumers' behavior and changing the way products are made and delivered. The map can encourage companies to forgo overly ambitious, unsustainable projects and start with smaller ones that generate steady profits. — Anonymous

In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else. — Malcolm Turnbull

would have recognized the opportunity for a world-class joke, but would never allow myself to be funny at the cost of making somebody else feel like something the cat drug in. Let that be my epitaph. *** — Kurt Vonnegut Jr.

I tell my micro students everything I teach them is important, but the truth is that some things are more useful than others, and opportunity cost is near the top. — Emily Oster

We're guessing at our future opportunity cost. Warrenis guessing that he'll have the opportunity to put capital out at high rates of return, so he's not willing to put it out at less than 10% now. But if we knew interest rates would stay at 1%, we'd change. Our hurdles reflect our estimate of future opportunity costs. — Charlie Munger

What I've learned only recently is that all of this opportunity came at a tremendous cost. You see, Xers and millennials are the product of the largest divorce generation in history (yeah, I'm talking about you, Boomers). It's obvious how clueless I was even with my stable background, and here my peers were growing up in broken homes. Many of them grew up without dads. — Lisa Anderson

One of the conflicts inherent in having choice is that we all make different ones. There is always an opportunity cost, and I don't know any woman who feels comfortable with all her decisions. As a result, we inadvertently hold that discomfort against those who remind us of the path not taken. Guilt and insecurity make us second-guess ourselves and, in turn, resent one another.' — Sheryl Sandberg

Development means a capacity for self-sustaining growth. It means that an economy must register advances which in turn will promote further progress. The loss of industry and skill in Africa was extremely small, if we measure it from the viewpoint of modern scientific achievements or even by the standards of England in the late eighteenth century. However, it must be borne in mind that to be held back at one stage means that it is impossible to go on to a further stage. When a person is forced to leave school after only two years of primary school education, it is no reflection on him that he is academically and intellectually less developed than someone who had the opportunity to be schooled right through to university level. What Africa experienced in the early centuries of trade was precisely a loss of development opportunity, and this is of greatest importance. Pg. 105 — Walter Rodney

Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price represents an opportunity that leads inventors and businesspeople to seek new ways to satisfy the shortages. Some fail, at cost to themselves. A few succeed, and the final result is that we end up better off than if the original shortage problems had never arisen. That is, we need our problems, though this does not imply that we should purposely create additional problems for ourselves. — Julian Simon

Be sure that you are well compensated for illiquidity - especially illiquidity without control - because it can create particularly high opportunity costs. — Seth Klarman

When the options are few, we can be happy with what we choose since we are confident that it is the best possible choice for us. When the options are practically infinite, though, we believe that the perfect choice for us must be out there somewhere and that it's our responsibility to find it. Choosing can become a lose-lose situation: if we make a choice quickly without fully exploring the available options, we'll regret potentially missing out on something better; if we do exhaustively consider all the options, we'll expend more effort (which won't necessarily increase the quality of our final choice), and if we discover other good options, we may regret that we can't choose them all. — Sheena Iyengar

There's an opportunity cost to everything. — Julie B. Beck

Finding a single investment that will return 20% per year for 40 years tends to happen only in dreamland. In the real world, you uncover an opportunity, and then you compare other opportunities with that. And you only invest in the most attractive opportunities. That's your opportunity cost. That's what you learn in freshman economics. The game hasn't changed at all. That's why Modern Portfolio Theory is so asinine. — Charlie Munger

Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities. — Charlie Munger

Money is very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota? Now, you would expect people to have an answer. But people were kind of shocked by the question. They never thought about it before. So, the most we got was people said, "Well, if I can't buy this Toyota, if I buy this Toyota, I can't buy a Honda." What is this thing? What is this value of price? Very hard to think about it. — Dan Ariely

There is an opportunity cost in every action. — Lailah Gifty Akita

For those who aspire to live in a high cost, high tax, big government place, our nation and the world offers plenty of options. Vermont, Canada and Venezuela all offer you the opportunity to live in the socialist, big government paradise you long for. — Marco Rubio

By saying Make in India, we are not only inviting companies for cost-effective manufacturing, but also giving them an opportunity of a large market for their products. — Narendra Modi

Why was the human race created? Or at least why wasn't something creditable created in place of it? God had His opportunity. He could have made a reputation. But no, He must commit this grotesque folly - a lark which must have cost Him a regret or two when He came to think it over and observe effects. — Mark Twain

... but every activity we pursue comes with an opportunity cost, as the economists remind us. Time spent commuting to work is time not spent with your kids. Time spent debating the relative merits of kale versus arugula is time not spent discussing the nature of beauty and truth. I look down at my plate of bland grub with newfound respect. — Eric Weiner

The cost of a model is more than compensated for by future savings. It not only presents an accurate picture of the product for the executives, but it also gives the tool-makers and production men an opportunity to criticize and to present manufacturing problems. — Henry Dreyfuss

Our team has always believed that neither cost and distance should ever prevent people from connecting with their friends and loved ones, and won't rest until everyone, everywhere is empowered with that opportunity. — Jan Koum

The Texas Defensive Driving School is an innovative Texas online defensive driving course that provides students the opportunity to remove a traffic ticket. A Texas Defensive Driving School is approved by the Texas Education Agency (TEA) to provide online defensive driving instruction in the state of Texas. A The cost of the Texas Defensive driving online course is $25, which is the lowest price allowed by law. A The Texas Defensive Driving School online course has been developed using 100% Flash based videos and is engaging as well as educational. A Because we have included short end of chapter quizzes in the course, no final exam is required. A In addition, because the course is based on Flash based videos, there is no boring reading of endless pages of text. — Gary Hensley

If one is lucky, opportunity cost is all the price one pays. More often than not, there are other costs to gaining your freedom. Maybe it has to do with letting go of comfort and convenience, incurring a loss, or losing friends who are no longer aligned with your goals. Maybe it is a dramatic dislocation in the way you lead your life that renders you disoriented. Some of these experiences maybe painful. You may also find the pursuit of happiness is at times a lonely road. — K.J. Kilton

Traditionally women have been more reticent to acknowledge their ambition and to say it with pride. So I like having people who work for us who are ambitious, engaged, respectful. Mis-hiring is a huge mistake. It's a tremendous opportunity cost throwing the position to the wrong person. — Ivanka Trump

I got married at 19 and graduated from a commuter college in Texas that cost $50 a semester. The way I see it, I'm a janitor's daughter who became a public school teacher, a professor, and a United States Senator. America is truly a country of opportunity! — Elizabeth Warren

We're at a crucial point in history. We cannot have fast cars, computers the size of credit cards, and modern conveniences, whilst simultaneously having clean air, abundant rainforests, fresh drinking water and a stable climate. This generation can have one or the other but not both. Humanity must make a choice. Both have an opportunity cost. Gadgetry or nature? Pick the wrong one and the next generations may have neither. — Mark Boyle

Although I'm seldom aware enough to see it, the greater cost regarding that which I possess was not what I paid for it, but what someone along the way sacrificed so that I might have the opportunity to pay for it. — Craig D. Lounsbrough

Money are very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota? — Dan Ariely

But the macro-economy is not the Whole. It too is a Part, a part of the larger natural economy, the ecosphere, and its growth does inflict opportunity costs on the finite Whole that must be counted. — Herman E. Daly

The problem with opportunity cost is that opportunity cost is divided among many, many things. — Dan Ariely

There were those within NASA who believed, and would continue to believe for decades into the future, that the government's decision to put all its chips on a short-term strategy to beat the Soviets came at the cost of the opportunity to turn humans into a truly spacefaring species. — Margot Lee Shetterly

For all great innovations, someone took a risk. They risked capital; they risked their energy; they risked their opportunity cost; and more important, they risked failure. We can't innovate without the belief that we can succeed, the confidence that others will be there to help us on the journey, and the security that we will not be punished if we fail to reach our goal. A fast-moving world demands innovation for long-term success. — Dov Seidman