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In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else.

Malcolm Turnbull

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Malcolm Turnbull
Age: 70
Born: 1954
Born: October 24
Barrister
Entrepreneur
Investment Banker
Journalist
Member Of The Australian Parliament
Politician
Sydney
NSW
Malcolm Bligh Turnbull
Idea
Money
Else
Ideas
Economics
Important
Concepts
Something
Cost
Spend
Opportunity

More quotes by Malcolm Turnbull

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You cannot keep on saying oh, you know, talking about disrespecting women as just being politically correct or it's not a big deal or brushing things off. You've got to be aware of it.
Malcolm Turnbull
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I'm sick of the cover-ups, I'm sick of the lies, and so are the bloody veterans, that come out daily of the department's mouth.
Malcolm Turnbull
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If consulted by friends about marital dramas, I always encourage the singles to marry, the married to stick together, the neglectful and wayward to renew their loving commitment and the wronged to forgive.
Malcolm Turnbull
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We are already experiencing the symptoms of climate change, especially with a hotter and drier climate in southern Australia - the rush to construct desalination plants is an expensive testament to that.
Malcolm Turnbull
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I've always been prepared to put my money where my mouth is.
Malcolm Turnbull
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Are not the gays who seek the right to marry, to formalise their commitment to each other, holding up a mirror to heterosexuals who are marrying less frequently and divorcing more often?
Malcolm Turnbull
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Newspapers are busily experimenting with different models. Traditionally, and I suspect in hindsight very mistakenly, online news was free. And once given free access readers felt it was their entitlement.
Malcolm Turnbull
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The biggest review of taxation ever undertaken in this country, is now dead in the water.
Malcolm Turnbull
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What you've got to do is recognize that you don't control everything for a start, you've got to play the cards you're dealt, the hand of cards you're dealt, as best you can, and that's what I always seek to do.
Malcolm Turnbull
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Mitt Romney speaking to a $50,000-a-plate Republican fundraiser says he doesn't have to worry about the 47 per cent of Americans who don't pay tax. He was not counting on the smart phone recording his speech and then posting it on YouTube.
Malcolm Turnbull
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On balance, after weighing the arguments, I believe that the time has come for Australia to create a new sovereign wealth fund.
Malcolm Turnbull
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China and India will take the global leadership on climate change: they are suffering for it.
Malcolm Turnbull
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The Liberal Party is and always has been an amalgam between the conservative and the liberal with a small L traditions. And so from time to time people will see it emphasising one more than the other. I think it is genuinely an amalgam between the two.
Malcolm Turnbull
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We will certainly have to rethink the way in which we design and protect places where large numbers of Australians and indeed this will happen around the world.
Malcolm Turnbull
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There is nothing more important in business or politics than a deal is a deal.
Malcolm Turnbull
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The only reason to be in politics is public service. There's no other reason. Frankly, if that's the best job you can get in terms of money, that's too bad, you know. Because frankly, it's not well paid, everyone knows that. So for most people it's a big sacrifice.
Malcolm Turnbull
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My commitment to the Republican movement was pure and simply patriotism, a love of Australia... a desire or passion that all of our national symbols should be unequivocally and unambiguously Australian.
Malcolm Turnbull
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Americans understand that they have no stronger ally, no better friend, than Australia.
Malcolm Turnbull
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Government will not nominate the former Labor prime minister [Kevin Rudd] to be the UN's next secretary-general.
Malcolm Turnbull
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Look at countries like China, they are determined to dominate all clean technology areas, putting lots of money into wind, solar, electric vehicles and battery storage. America's political impotence, caused by their terrible partisanship, will see them left behind.
Malcolm Turnbull