Opportunity Cost: Making a choice means sacrificing something else at the same time because we can’t have everything. If the value of what is given up is significant, then the choice incurs a relative loss, and it is up to the CEO to recognize this as a cost. In reality, whether I am aware of the opportunity cost or not, it still impacts my current financial situation. However, to calculate profit or loss as an opportunity cost, there must be a future opportunity to forgo the current choice and select an alternative. No one should keep repeating the cycle of giving up and choosing without knowing whether the next decision will be beneficial or not. Giving up is worthwhile only when the next option is good. - Joseph’s “just my thoughts”
Human activity was limited when the world paused due to the pandemic, and interactions plummeted. People openly admitted that they were struggling financially. Wealth creation is the core purpose of an economy. Wealth is created through exchange. Exchange is the only way wealth is created. Things are only priced through an exchange. The pandemic has irrefutably demonstrated that activity fosters exchange. If you want to gain wealth, you must be active. Even if you're not dynamically active, you must be statically active. Keep being active! Never stand still! - Joseph’s “just my thoughts”