--- title: "Meaning & Key Takeaway of: According to standard economic…" description: "\"“According to standard economic assumptions, the only opportunity costs that should figure into a decision are the ones associated with the next-best a..." image: "https://sms4smile.com/quotes/i/786/barry-schwartz-19557_economics_according-to-standard-economic-assumptio_521511.jpg" --- # According to standard economic assumptions, the only… ![“According to standard economic assumptions, the only opportunity costs that should figure into a decision are the ones associated with the next-best alternative.” quote by Barry Schwartz](https://sms4smile.com/quotes/i/786/barry-schwartz-19557_economics_according-to-standard-economic-assumptio_521511.jpg) [Download](https://sms4smile.com/quotes/i/786/barry-schwartz-19557_economics_according-to-standard-economic-assumptio_521511.jpg) [Open image](https://sms4smile.com/quotes/i/786/barry-schwartz-19557_economics_according-to-standard-economic-assumptio_521511.jpg) > ““According to standard economic assumptions, the only opportunity costs that should figure into a decision are the ones associated with the next-best alternative.”” [Barry Schwartz](https://sms4smile.com/quotes/author/barry-schwartz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Decision making should weigh the next‑best alternative’s cost, not all possible options. **In simple terms:** Focus on the best alternative next to your choice. Key Takeaway Prioritize the most relevant alternative when evaluating costs. Themes decision making economics opportunity cost choice Mood analytical cautious Type theoretical advisory When to use this quote - budgeting - career planning - product selection - time management Key Concepts rational choice theory behavioral economics Questions to Reflect On - What alternatives truly affect your decision? - When might a broader view be necessary? 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