Scarcity is one of the concepts in which economics is anchored. It is concerned with the ideal use and distribution of available scarce resources. People are forced to make choices wherever there is scarcity. Opportunity cost refers to the value forgone when you have to give up for choosing something else (Kurzban, Duckworth, Kable, & Myers, 2013). As such, it can be regarded as what an individual sacrifices when they want a particular thing over another.  It is the cost of choosing the best selection when making a choice. For instance, if a given asset such as money is used for a particular function, the opportunity cost, in this case, is the worth of the afterward best purpose that the asset could have been utilized for.