Economics is a game of choices and so is life in a bigger sense. So it isn’t mad science that we can co-relate the two. And there is this basic terminology in Economics known as ‘Opportunity Cost’ which basically sums up basics of economics. Opportunity Cost is nothing but the alternative forgone for the choice you end up making. In simpler words, you can’t have it all as they say. You can’t look right and left at the same time while crossing a road. Its either the right or the left. So while you are looking at the left your opportunity cost at that time would be looking at the right (which might be matter of life and death 😛 ).
So to get back onto a serious note, we are bound to have regrets don’t we ? We regret not eating that pizza and having to end up eating that bland salad. We regret not going out with friends and having to end up at home during the weekends. One way to have less regrets can be looking at the opportunity cost of the decision you are about to make. I believe its will remove a lot of your regrets. You won’t completely remove all your regrets but it surely will give you a lesser number of them. But if you end up not studying for the test just because you thought the opportunity cost of playing on your console was higher then obviously you didn’t think it through an economist way or there is some problem with comprehending logic.
So to have a rather enjoyable and regret-less life think like an economists and always be on the look-out for the opportunity cost… 😀 😛
P.S : Don’t end up like this!!! XD