Focusing on opportunity cost, since scarcity is the chief culprit in producing opportunity cost. Business people facing not only opportunity costs but accounting and economic costs as well. Suppose I decide to quit my jobwhere I was earning $60,000 per year and start my own business. In this business, I am earning just $20,000. What is the real cost of running the business if I was to consider the opportunity costs as well as the costs of doing the business itself? Tell me what your thoughts are on this.