Definition Opportunity Cost. Description.
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.
|
In the forum section you will find recent discussions within this knowledge area.
|
|
|
In the best practices section you will find the best forum discussions within this knowledge area.
|
|
|
In the expert tips section you will find advices from experts within this knowledge area.
|
|
|
In the Resources section you will find powerpoint presentations, micro-learning videos, articles, news items, etc. within this knowledge area.
| |
News about Opportunity Cost
|
|
|
|
| |
Videos about Opportunity Cost
|
|
|
|
| |
Presentations about Opportunity Cost
|
|
|
|
| |
Books about Opportunity Cost
|
|
|
|
| |
More about Opportunity Cost
|
|
|
|
|
|
Compare also:
Cost-Benefits Analysis
| Time Value of Money
| Feasibility Study
| Efficiency Wage
|
|
|
Special Interest Group Leader
|
|
|
|
|
|
|
|
