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. Many other famous people like Franc-kin Bacon also expressed the similar view, which is more known to us, “Time is money”, people can make money via the efficient use of time, and thus a waste of time means the loss of treasure, in a negative way (Franklin, 1746).

As the concept was so fundamental that almost all the economic undergraduates are exposed to this concept in the first week of introductory classes, which assumes that such a concept is as straightforward as to not demand further teaching or explaining, which may become one of the reasons that more than 78% scholars made mistakes of such a concept.

In spite of its shortage of attention, opportunity cost does play an important and universal role in our life, people’s failure to recognize that cannot deny its existence and importance. Opportunity cost accompanies every decision of human beings, organizations, governments and even our whole society.

Throughout our life, opportunity cost runs through all our life. Even before a life was born out, whether or not to have it reflects such a comparison and philosophy. Before a person was born, his or her parents may be faced with option, whether or not have a little baby to join and expand the family, if they choose to have, then in addition to the painstaking process of pregnancy, which lasts for about ten months, and the suffering of the moment giving birth, they will have to vacate themselves to bring up their little baby, keeping their little baby accompany and taking good care of the life, they also have to set aside a large proportion of their money to feed the life, which may means fewer chances to long travel and less experience of your favorite cosmetics, handbags and freedom and a life may full of messes. Parents have to take account of the needs, the nutrition and the development of their children whenever they would like to make some changes. Such an exorbitant sacrifice of time and money prohibits many young couple to have a little baby, not to mention that it makes them think for more than once before such a determination. But every day tens of thousands new babies are given births to join the new world, for the happiness of their existence is unaccountable and valuable. Nobody excepts a mother could feel how happy she was when she saw the ugly baby came out from her stomach and hear the loud cry of her young child even though she was just experiencing a pain which makes her almost want to see the god. The moment of witnessing the new life offsets all the pains, and brings even more for the couple. Maybe the main source that leads young couple to having a child results from this, based on such a consideration, they decide to have a baby, and the opportunity cost of the little child is the pleasure that could come out from the substitutes that the young couple would receive otherwise.

After the baby came to the world, however, the story does not end but simply suggests a beginning for a life full of choices, after the baby came to the world, all the factors they once take into account bewilders them again, because this time, they have to face them in the real world. They will hesitate between whether let their baby learn some special skills when they are still young, if yes, then whether to choose chess, violin, piano or others. As they become older, should they send their child to a private school or public school? Should one of them resign to take care