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LSDefine

Simple English definitions for legal terms

opportunity cost

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A quick definition of opportunity cost:

Opportunity cost: The cost of choosing one thing over another. It's like when you have two options, but you can only pick one. The opportunity cost is the value of the thing you didn't choose. For example, if you choose to buy a toy for $10, the opportunity cost is the $10 you could have used to buy something else.

A more thorough explanation:

Definition: Opportunity cost is the value of the next best alternative that is forgone when making a decision. It is the cost of choosing one option over another.

Example: If you have $100 and you decide to spend it on a concert ticket, the opportunity cost is the value of the next best alternative that you could have spent that $100 on, such as a new pair of shoes or a dinner with friends.

The concept of opportunity cost is important in decision-making because it helps individuals and businesses to weigh the benefits and drawbacks of different options and make informed choices. By considering the opportunity cost, they can determine whether the benefits of a particular decision outweigh the costs.

opportunity | opportunity to be heard

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10:25
take your meds bro im begging you
NosyBeagle
10:26
if i take my meds, you all will go away
10:28
YEOW good one nosybeagle i hopw u have a long and prosperous life
NosyBeagle
10:28
thank you bigfatsloth. i wish you the best
10:28
yay
@ParallelAgreeableOrangutan: Yeah, I went ahead and put in an app. Fingers crossed, I guess!
ParallelAgreeableOrangutan
10:32
I hope you get it!
NosyBeagle
10:34
crying screaming throwing up because I have to study again today (I want to go to law school)
ParallelAgreeableOrangutan
10:42
Don't hate me but I start law school in the fall and I'm realizing I would happily do the LSAT for three years instead
NosyBeagle
10:43
what school
ParallelAgreeableOrangutan
10:43
HLS lol which is why I'm so nervous I think
Any idea when Spivey will actually make selections? The deadline is June 29th to apply, so I'm betting they won't make any decisions before that point. Will they email you if you've been rejected or only if they accept you?
ParallelAgreeableOrangutan
10:44
I bet RFelixFinch will tell you how long it too him to find out if you comment on his reddit post
NosyBeagle
10:45
u gotta lock in bro
ParallelAgreeableOrangutan
10:48
I've been out of school for a long time and I'm scared I won't remember how to be a student, or that I'm too used to sleeping full 8-hour nights
NosyBeagle
10:53
I recommend finding students like you for support. There's bound to be a few.
ParallelAgreeableOrangutan
11:05
I'm hoping so, especially with such a large 1L class
I've never been a study group guy in my whole life. Seems like that's the default in law school, though. Idk it's more than a year away for me so I shouldn't even be thinking about this sort of minutia, but like I wonder if study groups are actually tangibly helpful in law school? I bet that majorly depends on who is in your study group, but then they form at the beginning of the year before anybody knows eachother, and momentum just keeps them going even if they aren't great
Nah, the cliques start forming at asd
First round draft picks
Then later ones are lower draft picks
So everyone gets kinda the same peer group in relation to academic ability
Wont be much or any bottom feeders leeching off smart study master/unofficial tutor
Bettercaulsaul
11:18
I haven’t been much of a group study person either in my educational career. If you’re living on campus it won’t be too bad ; I think it mainly becomes an issue for those who live off campus or commute far
AngryMiniCar
11:39
Bro bad news. No lunch no pasta... someone took all 5 containers of left over pasta from the firm lunch yesterday
AngryMiniCar
11:39
I'm irrationally mad :')
@PremiumFrequentCrane: The unofficial tutor is exactly why I've never been a study group guy lol. That is always how it went any time I would attempt it
NosyBeagle
11:51
rip to the epic pasta lunch
NosyBeagle
11:53
i am also irrationally mad because I second guessed myself on an answer and beefed it
NosyBeagle
11:53
me from 5 mins ago was cooking idk what happened
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