Opportunity Cost

If you were a student of Economics, you know the term “Opportunity Cost”. It has been brought up time and again in the course of Economics, and a very true fact it is. In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Rather, simply said, Opportunity cost is the potential forgone profit from a missed opportunity—the result of choosing one alternative and forgoing another. I think it was in high school when I was first introduced to this concept. Little did I realize at the time, that this term could also be applied to life.

My Economics teacher might or might not be proud to hear that all of this came back to me recently. We were watching the popular movie “Yeh Jawaani Hai Deewani”. There is this scene when the characters Kabir and Naina are exploring the beautiful, historic city of Udaipur. Kabir has a full list of places to go in Udaipur and he is determined to check everything off the place. This is why when Naina wants to stay and watch the sunset, he says that they only have today and they need to do everything by today. I’m sure if you’ve watched this movie, you are familiar with this scene. But then, Naina says to Kabir : “You cannot be everywhere in life, you have to let go of somethings, so embrace and enjoy where you are in the moment.” Such a simple line, yet a deep meaning, isn’t it? And the very truth of it. This is true in all of our lives, too. We only get so much time to do everything we want. Sometimes 24 hours fall short in a day, because there is so much to do. But there is only one of you, and you have to make choices in the one life you get. Make the most of the choices that you are making. My restless mind somehow related this with opportunity cost. Here, whatever Kabir had planned in the list was the opportunity cost that they had to let go to stay and enjoy the beautiful sunset, isn’t it?

Comments

Rajamati

I think we’ve all heard the song of Rajamati growing up. It is so popular that many people in Nepal claim this is the only Newari song that they have heard. The song was written some 200 years back. The first few lines go like this, which I’m sure you must have heard of, unless you’ve been living under a rock: Rājamati kumati, jike wasā pirati Hāya bābā Rājamati-chā Rājamati mabila dhāsā Kāshi wane tela bubā Hayā biu Rājamati-chā. San dhāsā kuli kuli, mikhā dhāsā bālā bālā Sakumi yā mhyāy machā lā Khwā dhāsā tuyu khwā, khwālay niga tee du Tāhā Nani yā Rājamati-chā. It is said to be written by or rather from the perspective of a man who was infatuated and in awe of the beauty of Rajamati. He describes with great admiration: her hair, her eyes, her complexion and the little moles on her face. However it is unknown who the writer of this beautiful song is. The song rushed into popularity after it was played in England in 1850 when Prime Minister Jung Bahadur Rana vi...

The Leaving vs The Left Behind

I still remember, I was standing near the entrance looking out at the garden. I was at my best friend’s home and she had gone to get her ever famous chips chilly for me. I was to leave for Bangalore again, in a couple of days. While I waited, I looked out at the garden and this thought came into my head. “Who is it harder for? The one leaving or the ones left behind?” Is it going to be harder for me in a new place readjusting and exploring, or my best friend here, who will me miss me? Is it harder for a person to settle in a completely new place with a completely new lifestyle and have to find new people or for a person to see the same old places, the same old alleys and reminiscent the good times they had with their friend who are not around at the moment? It was a random thought that filled my mind a couple of minutes and then I got over it. Some time after resettling here in Bangalore, my best friend sent me a reel. The reel was about 2 close friends who used to lived ...

Everyday Phases by my Mother part 2

I have been meaning to write this part 2, especially after Every Day Phrases by my Mother , the first part was liked by so many and also because, well, the phrases and the dialogues never end with my mother. I did tease her about writing a book or making a scrapbook about all her phrases, but we never got around to it. So here we are, after almost 4 years, apologies if the Nepal bhasa wordings are incorrect somewhere Ne tha ne masau Bhwauthau pwa This is basically saying, not being able to take advantage of the situation or not doing what you are supposed to do at the event. If you get invited somewhere that has food, you should eat there. Neu twanyu tha yu yethe, jui chwanyu kata pinyu yethe I have heard this one many times. In the society that we live in, impression and your social image matters a lot, especially when it comes to family prestige. So it does not matter what you do at home but once you step outside, there is this social obligation of dressing appropriately, behav...

My World

Search This Blog