O is for Opportunity Cost

Greetings, A-Zers! It’s day 15 of the 2015 A-Z blog challenge, and my theme is “The Business of Writing: A Glossary”. I know everyone is busy making rounds this month, so I’ve done my best to keep each post informative and to-the-point. :) Today’s letter is:

O is for Opportunity Cost

Loose Definition: What are you giving up to accomplish something else?

Put to Use

Here’s an example: By formatting my own books, I save hundreds of dollars, but what do I give up in exchange? Time. Sweet, precious time that could be used for writing.

---

Question of the Day

Do you factor in opportunity costs?