Suppose Vincent decides to take a trip to Tennessee. Which result would be a cost?
Vincent will give up the chance to go to New York. He would have enjoyed a trip to New York more than Tennessee. Vincent will save some money. Plane tickets for Vincent to get to Tennessee are less expensive than tickets to New York.
Vincent is deciding whether to take a trip to New York or Tennessee. He wants to enjoy his trip. But he is also trying to save money.
Before you decide to do something, it is often helpful to list costs and benefits.
Costs are what you give up or spend when you decide to do something. Costs involve giving up things that you want or need.
Benefits are what you gain or save when you decide to do something. Benefits involve gaining something that you want or need.
This result is a cost. It involves giving up or spending something that Vincent wants or needs:
Vincent will give up the chance to go to New York. He would have enjoyed a trip to New York more than Tennessee.