Suppose Julie decides to take a trip to Minnesota. Which result would be a cost?
Julie will save some money. Plane tickets for Julie to get to Minnesota are less expensive than tickets to Tennessee. Julie will give up the chance to go to Tennessee. She would have enjoyed a trip to Tennessee more than Minnesota.
Julie is deciding whether to take a trip to Tennessee or Minnesota. She wants to enjoy her trip. But she 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 Julie wants or needs:
Julie will give up the chance to go to Tennessee. She would have enjoyed a trip to Tennessee more than Minnesota.