Opportunity Cost

Knowledge Center

Summary, forum, best practices, expert tips and information sources.

8 items • 20.685 visits

Welcome to this knowledge center. Here you'll find a summary of Opportunity Cost and much more:

Special Interest Group
Forum Discussions
Best Practices
Expert Tips
Information Sources
Research Links

Summary

What is Opportunity Cost? Meaning.

Opportunity Cost is an economic term that refers to the advantages of the second best business alternative, which are forgone as a result of accepting the best alternative.

It is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the benefits that could be received from that opportunity), or the most valuable foregone alternative.

Also it can be used to refer to the value of the best alternative use of a resource. This consists of the maximum value of other outputs we could and would have produced had we not used the resource to produce the item in question.

Special Interest Group

Opportunity Cost Special Interest Group.

Special Interest Group (17 members)

Forum

Forum about Opportunity Cost.

Start a new topic

🔥	NEW Opportunity Cost Definition I can say it is the loss caused by opting for the last best opportunity instead of today's best opportunity in terms of benefits.... 1

Best Practices

The best, top-rated topics about Opportunity Cost. Here you will find the most valuable ideas and practical suggestions.

Expert Tips

Advanced insights about Opportunity Cost. Here you will find professional advices by experts.

Information Sources

Various sources of information regarding Opportunity Cost. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.

Research Links

Automatically jump to further useful sources regarding Opportunity Cost.