Opportunity cost is something I think about a lot. It affects our lives without us even realizing it, and there are more things than ever these days vying for our attention. Maybe some of you have heard; that the Wall Street Journal did a series of damming articles about Facebook. Facebook has become so ubiquitous that it may be more prevalent than proper sanitation in some parts of the world. I have not had a Facebook profile, or any other social media for that matter, since 2016. I'm old enough to remember the days when there was no such thing, and I think I am luckier than kids growing up with social media. There is a considerable opportunity cost associated with social media. Opportunity cost is the expense one incurs when spending time doing one task when they could have been doing anything else. The expense, I think, is greater than the benefit when you consider that everyone is more concerned with checking their phones for likes than they are, let's say, learning math. Most of the people I have ever talked to in my life proudly admit they are bad at mathwhat a thing of which to be proud. I'm no math genius, but I do take the time to practice it and become better. Also, I interact with hospital workers, from chief nurses to floor sweepers, who proudly say that they are not computer people (some doctors are a little more thoughtful, of course). Good luck with that when 90% of your job is dependent on computer proficiency! But, at the same time, everyone will also admit that they are spending way too much time on their phones checking social media, checking social media at the expense of becoming better at their jobs. I love that economics is called the dismal science. I am a cynic to the core of my being, so I am only just a little annoyed by people getting more self-satisfaction from social media affirmations than learning things that could be more beneficial. Mostly I am fascinated to watch the world become more anti-social because of these things. People seem to get enough done, I guess. I will say thisif you are a social media company that has been scrutinized to the point of having to change your name, good luck with that too!

• Comment on the conclusions that was drawn about Opportunity cost and add your own observations regarding the selected microeconomic tools or principles discussed.
• Discuss how Opportunity cost would apply to yourself or your current or future work environment.

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