Rejection Cost. From the perspective that my profit is someone else’s loss, and someone else’s profit is my loss, the fact that I have to reject an opportunity to make money for my circumstances is a loss for me and an act of giving someone else a profit. In other words, my added value is not determined solely by productivity but also by the marginal utility generated by the law of supply and demand. Therefore, my labor price should reflect the value that I have given up—the profit I could have gained. If the rejection cost is not included in my profit, I will be at a loss to that extent. Failing to account for rejection costs in production expenses is not wise, but foolish, because it risks my survival. There is no absolute value in this world. All economic values are relative. - Joseph’s “just my thoughts”
Most people study in school, yet the education system does not provide financial education . Even though it doesn’t take long for us to realize that finance is an essential element of survival, isn’t it strange that schools don’t offer financial education? Economic activity is a power game where someone wins and someone loses. One person’s loss is another’s gain, and my sacrifice is someone else’s fortune. In other words, economic activity embodies the harsh reality of deciding between discomfort and the uncertain odds of a game that determines who occupies a position, even though that position has already been predetermined. This issue is further exacerbated by the fact that people have different productive capacities and society mandates that the means of value exchange is cash (fiat currency). To survive, you must first understand how social systems function. - Joseph’s “just my thoughts”