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     • Opportunity cost represents the potential benefits that a business, an investor, or an individual consumer misses out on when choosing one alternative over another. While opportunity costs can't be predicted with total certainty, taking them into consideration can lead to better decision making.
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     Opportunity Cost: Definition, Formula, and Examples

2. www.investopedia.com · terms · oOpportunity Cost: Definition, Formula, and Examples

   www.investopedia.com · terms · o

   

   Aug 29, 2024 · Opportunity cost is the potential benefit lost by choosing one option over another. Learn how to calculate opportunity cost, see examples of business and personal decisions, and understand the difference between opportunity cost and sunk cost.

   • Author: Jason Fernando

   • Video Duration: 2 min

3. People also ask

   What is the opportunity cost of studying economics?

   • If we spend that £20 on a textbook, the opportunity cost is the restaurant meal we cannot afford to pay. If you decide to spend two hours studying on a Friday night. The opportunity cost is that you cannot have those two hours for leisure. The fundamental problem of economics is the issue of scarcity.

   Opportunity Cost Definition - Economics Help

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   What is the difference between sunk cost and opportunity cost?

   • A sunk cost is money already spent at some point in the past, while opportunity cost is the potential returns not earned in the future on an investment because the money was invested elsewhere. When considering the latter, any sunk costs previously incurred are typically ignored.

   Opportunity Cost: Definition, Formula, and Examples - Investopedia

   www.investopedia.com/terms/o/opportunitycost.asp

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   What is opportunity cost in accounting?

   • Opportunity cost, as such, is an economic concept in economic theory which is used to maximise value through better decision-making. In accounting, collecting, processing, and reporting information on activities and events that occur within an organization is referred to as the accounting cycle.

   Opportunity cost - Wikipedia

   en.wikipedia.org/wiki/Opportunity_cost

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   What is the opportunity cost of a choice?

   • In microeconomic 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.

   Opportunity cost - Wikipedia

   en.wikipedia.org/wiki/Opportunity_cost

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4. www.economicshelp.org · blog · 2177Opportunity Cost Definition - Economics Help

   www.economicshelp.org · blog · 2177

   

   Mar 29, 2019 · Opportunity cost is the next best alternative foregone when making a choice. Learn how to calculate and apply opportunity cost with examples, production possibility frontiers and comparative advantage.

5. Videos

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     Opportunity Cost: Definition, Formula, and Examples

     Dec 31, 2008

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     What Is Opportunity Cost?

     Aug 14, 2018

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     Opportunity cost explained

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6. www.econlib.org · College · opportunitycostOpportunity Cost - Econlib

   www.econlib.org · College · opportunitycost

   

   Opportunity cost is the value of the next-highest-valued alternative use of a resource. Learn how economists use this concept to analyze tradeoffs, scarcity, and decision-making with guides, videos, and articles from Econlib.

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8. courses.lumenlearning.com · wm-microeconomicsThe Concept of Opportunity Cost | Microeconomics - Lumen Learning

   courses.lumenlearning.com · wm-microeconomics

   

   Opportunity cost is the value of the next best alternative that is given up to obtain something desired. Learn how opportunity cost affects individual and societal decisions with examples from economics and everyday life.

9. en.wikipedia.org · wiki · Opportunity_costOpportunity cost - Wikipedia

   en.wikipedia.org · wiki · Opportunity_cost

   

   Opportunity cost is the value of the best alternative forgone when a choice is made between several mutually exclusive alternatives. Learn about explicit, implicit, sunk and marginal costs, and how they affect economic decisions and efficiency.

10. socialsci.libretexts.org · Bookshelves · Economics1.2: Opportunity Cost - Social Sci LibreTexts

    socialsci.libretexts.org · Bookshelves · Economics

    

    Jun 20, 2023 · Opportunity cost is the value of the best forgone alternative when choosing one option over another. Learn how to compute and monetize opportunity cost, and see how it applies to various situations such as education, puppies, and risk.

11. www.britannica.com · money · opportunity-costOpportunity cost | Marginal Cost, Scarcity & Trade-Offs ...

    www.britannica.com · money · opportunity-cost

    

    opportunity cost, In economic terms, the opportunities forgone in the choice of one expenditure over others. For a consumer with a fixed income, the opportunity cost of buying a new dishwasher might be the value of a vacation trip never taken or several suits of clothes unbought.