Don't worry, I'm not going to give a lesson in economics...did any of you even know that is where the term opportunity cost comes from? I didn't ...until my son shared that with me after I used a little of my Executive Function expertise on him when he was being less than timely with initiating the task of his college applications.
After seeing him wasting time on something other than what he was needing to do...I asked him "Is what you are doing worth more than getting into the colleges you want to?" He immediately stopped what he was doing, looked right at me and said "Wow, mom. That makes a lot of sense. I like that. By they way, nice use of an opportunity cost." A what?
Defined by Wikipedia:
The opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources.
Or, in simpler terms that even I can understand:
Opportunity cost is what you have to forgo when you choose to do A rather than B.
Talk about getting to the point with a preteen or teen! Who knew that economic terms were the magic pill for procrastination?!
I'd love to hear how using this concept works for you with your own kids/students. Until next time...keep growing and blooming.