Friday, March 7, 2008

Costs

Something Paul said in an e-mail got me on my soap box about "Sunk Cost" and "Opportunity Cost."

"Sunk cost" is a lesson I taught my kids quite often; it's basically a family joke at this point, but they know what it is! "Opportunity cost" actually relates to it, though I doubt I ever told them about it.

I guess that means I still have something to teach them. Maybe over Spring Break.

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