Lockout V: Take the Long Way Home
View Single Post
12-19-2012, 09:43 PM
...in the drink
Join Date: Aug 2002
Originally Posted by
I suppose that *technically* I haven't lost anything financially because the money is still on deposit with the team. However, that's $2,000+ of my money that they have and I don't, so I suppose it could be argued that I've "lost" it since I don't have it to spend on anything else!
That would be your opportunity cost. Ties in with loss of utility, efficient use of resources, etc. Economics 101 (maybe 102, depends on how deep you want to delve into it).
You understand the economic cost of a good, even if you didn't know it; kinda sounds like you did though. Pity the same can't be said for too many around here; we might have debates with substance if they did.
View Public Profile
Find More Posts by cws