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Question and answer: Government failure

OPPORTUNITY COST

The opportunity cost of a TV binge

In the final edition of this series of Economic Review columns looking at the concept of opportunity cost, Sofia Izquierdo Sanchez considers the economics that lie behind marathon viewing sessions

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You’ve just discovered a new show on Netflix, Disney+ or Amazon Prime. You sit down to ‘just watch one episode’. Forty-five minutes later, the episode ends on a dramatic scene, and suddenly the ‘Next episode’ button is glowing on the screen. Before you know it, a whole weekend has disappeared. It feels like the perfect treat: no deadlines, no pressure, just you, the screen and endless storylines.

But every choice comes with an opportunity cost: the value of the next best alternative you give up. When you spend 10 hours watching a TV series, what else could you have done with that time? You might have revised for upcoming exams, gone to the gym, worked a part-time job, caught up with friends or even slept properly. Each of these forgone activities has potential long-term consequences. These might include lower grades, weaker friendships, worse health or less money in your pocket.

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Question and answer: Government failure

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