opportunity cost

tags :

Economics #

The loss of other alternatives when one alternative is chosen. “idle cash balances represent an opportunity cost in terms of lost interest”

ref:

what you have to give up to buy what you want in terms of other goods or services. #

In microeconomics theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the “cost” incurred by not enjoying the benefit that would have been had by taking the second best available choice. wikipedia

Other #

the “Price” of Missed Opportunities youtube 2 youtube