El Monedero: el costo de oportunidad y cómo entender lo que perdemos al elegir

TL;DR

Opportunity cost is the value of the next best alternative that must be forgone to pursue a certain action.
The real cost of a choice is not just the monetary price but also the benefits missed from unchosen alternatives.
Examples include choosing between apples and oranges with limited money, or between TransMilenio and a taxi in Bogotá.
The concept is crucial for public policy, as government spending on one area means less funding for others like education or health.
Understanding opportunity cost leads to more conscious and informed decision-making in personal finance and economic policy.

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