[Script Info] Title: [Events] Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Tyler] Once you master \Nthe economic way of thinking, Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,you'll see the world \Nin a very different way. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Two fundamental economic concepts \Nare everywhere you look -- Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,opportunity costs, and tradeoffs. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let's start with opportunity costs. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,At this busy coffee shop, Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,opportunity costs lie \Nbehind every decision. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Like for Jenny -- she's here \Nfor her third date with Adam. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Was that a good decision? Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,After all, economics is \Nall about studying decisions. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Making a good decision is \Nabout comparing the benefits Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of that decision to the costs. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The obvious costs for this date Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,for Jenny were the Uber ride\Nshe paid for to get here, Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and her grande chai tea latte\Nwith whole milk. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,But what's missing? Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Her opportunity cost. Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Opportunity cost means the value \Nof the next best alternative.