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What determines the costs and benefits of the choice that we make? Moreover, why do people...

What determines the costs and benefits of the choice that we make? Moreover, why do people choose to attend school knowing that they have to pay for it, give up time with family and friends, and maybe change their jobs?

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Answer #1

Explanation:

- Cost and benefits of the choice that we make based on outcome of those choices we have made. Sometime people's wish to gain something lend them in either cost or benefit.

- when people chose to attend a school knowing that they have to for it, they know that this will reap them benefits in long term and benefits will be greater than what they have invested in it. In order to get something people have to lose something which is called opportunity cost. Opportunity cost prevail in almost every condition, suppose you want to get on date with your partner so you will miss live football match, this is example of opportunity cost where you have to sacrifice watching football so that you can enjoy date with girlfriend.

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