Blog #2 Opportunity Cost

Every decision that we make has a large effect on our life, you cannot do everything and there is always something that you could not do because of your choice. That is called an Opportunity cost. An example of an opportunity cost in my life is when I decided to volunteer at an animal shelter rather than go out and try to get a job at Fred Meyer's, Haggen, etc. Because of this choice there are things that I will gain but also miss out on.

One opportunity cost for this is that instead of getting a job that pays I will be doing volunteer work. So I will not be able to make any money for my work. However I will be getting experience that I can put on a resume or a college application. If I were to decided to get a job rather than volunteer than I could spend a lot of time searching and getting turned down due to lack of experience.

But since I am not getting any money I will not be able to do many things that I would like to do, or I'd have to ask for money which doesn't always pay out. 

One thing that I'd like to know more of is how do companies determine what the best decision for their business is without losing to much from the opportunity cost of it?

Scarcity

URL: http://upload.wikimedia.org/wikipedia/en/f/fa/Stacks_of_money.jpg

Money is very scarce for me, I have been unable to find a job in order to make my own money so I rely on getting paid very little for jobs my parents think up for me to do. I often am unable to do/get things that I want or need because I do not have enough money.