Suppose Wanda decides to get the rainbow sherbet ice cream. Which result would be a cost?
Wanda will give up the chance to eat the peach ice cream. She likes this flavor more than rainbow sherbet. Wanda will get a free waffle cone. She will enjoy the waffle cone.
Wanda is deciding whether to get peach ice cream or rainbow sherbet ice cream. She likes peach more than rainbow sherbet. But a scoop of rainbow sherbet ice cream comes with a free waffle cone.
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 Wanda wants or needs:
Wanda will give up the chance to eat the peach ice cream. She likes this flavor more than rainbow sherbet.