We should be all aware of one of the main concepts of economics…Opportunity Cost. This term is defined as, the cost of any activity measured in terms of the value of the best alternative that is not chosen (that is foregone). Opportunity cost can also be applied to other choices that are not monetary or material items. For example, if you choose to eat your Aunt Mary’s holiday pie the resource or dessert that you have foregone (or should forgo) is your sister’s holiday iced cookies.
If we used this concept when eating our holiday meals, we may actually reduce those unwanted calories. Normally, when economists refer to the term opportunity cost it is applied to something you spend your time or money on that was your first choice. Why at a holiday party do we spend our calories on desserts that are our fourth, fifth, and sixth choice? You will have to spend your time exercises to work-off all your excess choices. So, at the next holiday party try to use this concept and just choose your favorite treat (sweat or savvy)…in moderation of course 😉
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