*In your own words, explain what economists mean when they talk about opportunity costs. What are opportunity costs? Give some examples. And give some examples from your own life.
-->Opportunity cost is the loss of potential gain from the best alternative to any choice. Its the cost of pursuing one choice instead of another.
-->Economists give and take like doing exchanges in their investment. Example the economists will save 500 dollars to invest in stock instead of buying supplies for their offices.
-->Giving up time with your friends and to use that time to study for school.
-->Working to jobs to maintain a stable home. Your giving up your free time for the family.
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