Think of a recent decision you made. Review your decision in terms of opportunity cost. Do you think you made a wise decision?

I had $3 to spend. I could have bought chips or a milkshake, but not both. I chose the milkshake. Because I chose the milkshake, I could not buy the chips. This is an example of opportunity cost.

Explanation:

Opportunity cost is basically what you miss out on when you make a decision.

it is a part of john locke's natural rights popular during the age of enlightenment that people had inalienable rights to life, liberty and property. this was reflected by thomas jefferson in his declaration of independence as rights to life,liberty and the pursuit of happiness.

another line in the declaration of independence is that people have certain rights just because they are human. humans are capable of obeying the three natural rights john locke mentioned making them governable by these laws and therefore entitled to these rights as well.

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