Gelegenheitskosten: Die versteckten Kosten von Allem

The video tutorial explains the concept of opportunity cost, emphasizing its importance in decision-making. It illustrates how opportunity cost affects the true cost of education by considering both tuition fees and potential earnings lost by not working. The tutorial further explores the financial benefits of higher education, comparing potential earnings with and without a degree. Finally, it presents a case study of a high school student choosing between studying medicine and working in a family business, highlighting the long-term financial implications of such career decisions.

What factors should be considered when calculating the opportunity cost for a high school student choosing between studying medicine and working?

Analyze the financial outcomes of a high school student who decides to join the family business instead of pursuing a medical career.