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- DictionaryOp·por·tu·ni·ty cost
noun
- 1. the loss of potential gain from other alternatives when one alternative is chosen: "idle cash balances represent an opportunity cost in terms of lost interest"
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Mar 29, 2021 · Opportunity cost is the value of what you lose when you choose from two or more alternatives. It’s a core concept for both investing and life in general. When you...
Opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services. When economists use the word “cost,” we usually mean opportunity cost. The word “cost” is commonly used in daily speech or in the news.
Definition. production possibilities curve (PPC) (also called a production possibilities frontier) a graphical model that represents all of the different combinations of two goods that can be produced; the PPC captures scarcity of resources and opportunity costs. opportunity cost.
Opportunity cost is the trade-off that one makes when deciding between two options. The example of choosing between catching rabbits and gathering berries illustrates how opportunity cost works. The related concept of marginal cost is the cost of producing one extra unit of something. Created by Sal Khan. Questions.
Feb 29, 2024 · The meaning of OPPORTUNITY COST is the added cost of using resources (as for production or speculative investment) that is the difference between the actual value resulting from such use and that of an alternative (such as another use of the same resources or an investment of equal risk but greater return).
Apr 3, 2024 · 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.
Jun 20, 2023 · What is opportunity cost? How is it computed?
