Suppose Ted decides to get the pumpkin spice ice cream. Which result would be a cost?
Ted will get to eat the pumpkin spice ice cream. He likes this flavor more than vanilla bean. Ted will give up the chance to get a free waffle cone. He would have enjoyed the waffle cone.
Ted is deciding whether to get pumpkin spice ice cream or vanilla bean ice cream. He likes pumpkin spice more than vanilla bean. But a scoop of vanilla bean ice cream comes with a free waffle cone.
Before you decide to do something, it is often helpful to list costs and benefits.
Costs are what you give up or spend when you decide to do something. Costs involve giving up things that you want or need.
Benefits are what you gain or save when you decide to do something. Benefits involve gaining something that you want or need.
This result is a cost. It involves giving up or spending something that Ted wants or needs:
Ted will give up the chance to get a free waffle cone. He would have enjoyed the waffle cone.