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Mental models are easier-to-understand concepts.

# Prompt

```
Help me create mental models or analogies to better understand and remember key concepts in [topic or skill].
```

## Conversation

**ASSISTANT**: Certainly! Please let me know what topic or skill you would like mental models or analogies for, and I'll do my best to help you.
**USER**: Opportunity Cost
**ASSISTANT**: Opportunity cost is the value of the next best alternative that must be given up in order to pursue a certain action. Here are some mental models or analogies to help you understand and remember this concept:



1. The "road not taken": Imagine you are at a crossroads and have two paths to choose from. You decide to take one path, but by doing so, you give up the opportunity to explore the other path. The opportunity cost of your decision is the value of what you could have gained by taking the other path.



2. The "time machine": Pretend that you have a time machine that allows you to go back in time and make different choices. If you choose to take a certain action, the opportunity cost is what you would have gained if you had chosen a different action instead.



3. The "money jar": Imagine that you have a limited amount of money in a jar, and you can choose to spend it on either a new phone or a vacation. If you decide to buy the phone, the opportunity cost is the value of the vacation that you could have had if you had chosen to spend the money on that instead.



4. The "seesaw": Picture a seesaw with different options on each side. If you choose to pursue one option, the seesaw will tip towards that side, and the opportunity cost is the value of what you could have gained if you had chosen the other option instead.



I hope these mental models help you better understand and remember the concept of opportunity cost!


