Not long ago, I had to persuade my family to provide me with money to purchase a car. My approach was a combination between rhetoric and subtleness, which eventually led to convincing my parents to offer me money to buy the sport car that I wanted. Besides a strong and effective rhetoric that included logical (logos), emotional (pathos) and credibility (ethos) appeal, my method to convince my parents to support my plans to buy a car also took into consideration a rhetorical situation (kairos and topos) that influenced the response to my rhetorical exigence (demand). Purchasing a car is ...
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Definition
Opportunity cost is the choice of the alternative good or services against the other based on cost and benefit. There is always a trade-off in opportunity cost as resources are limited and they are used in various ways.
Examples
Suppose a person is thinking of riding a bus and not driving his own car. If he is riding the bus then he is travelling more cheaply but not as comfortably like his own car. So, some cost travelling by bus are waiting for the bus, walking to the bus stop and a slow journey. If the choice is between travelling ...