Leisure Time
Definition
Leisure time refers to the period of time when individuals are not engaged in work or other obligations. It is the free time that people have to pursue activities they enjoy and relax.
Analogy
Think of leisure time as a slice of pizza in your busy schedule. Just like you savor every bite of pizza during your break, leisure time allows you to savor moments of relaxation and enjoyment amidst your hectic life.
Related terms
Opportunity Cost: The value of the next best alternative that is given up when choosing one option over another.
Productivity: The measure of how efficiently resources are used to produce goods and services.
Marginal Utility: The additional satisfaction or benefit gained from consuming one more unit of a good or service.
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