We as a society have choices that must be made on a large scale such as the building of schools and hospitals which are made by the decision makes in our federal and provincial governments. These type of decisions have a direct opportunity effect to the rest of society. These type of decision can increase capital expenditures and grow our economy at a higher rate, or can be more of a consumer consumption and have a economy grow at a slower rate.
A significant opportunity cost which I have encountered with returning to school is that of less disposable income for myself. By doing the analysis and making the decision to return to school I have had to give up my yearly tropical vacation, and delay the purchase of a newer vehicle for the time being. However the long term benefits of this short term sacrifice are definitely worth it.
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