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Opportunity cost is defined as the cost of any activity measured in terms of the best alternative activity which is forgone. For instance, if you're choosing between 4 stocks, chose stock 1 and all 4 stocks go up, but stock 3 rises the most, you measure your opportunity cost against ONLY stock 3. So the opportunity cost in this case would be the BEST alternative.
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What is the meaning of opportunity lost?
In the economical term opportunity cost means the best next alternative forgone
If choosing something means you give up something else what is the economic term for this?
The economic term for the cost of a choice is the opportunity cost.
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
What do you understand by the term opportunity cost?
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
What is the economic term for sacrifice foregone?
Opportunity cost or real cost.
What is the meaning of opportunity lost?
In the economical term opportunity cost means the best next alternative forgone
If choosing something means you give up something else what is the economic term for this?
The economic term for the cost of a choice is the opportunity cost.
In soviet union what was the opportunity cost of the emphasis on heavy industry?
The opportunity cost were the consumer goods and services.
In the soviet union was the opportunity cost of the emphasis on heavy industry?
The opportunity cost were the consumer goods and services.
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
What was the benefit of the soviet union decision to concentrate on heavy industry What was the opportunity cost and who paid it?
The opportunity cost were the consumer goods and services.
Every time an action is undertaken by a consumer certain costs Emerge. What are The cost?
Opportunity Cost
What do you understand by the term opportunity cost?
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
What is the economic term for sacrifice foregone?
Opportunity cost or real cost.
What does the term total cost of ownership mean?
The term total cost of ownership means the following; a financial estimate, the term used to help the consumer and enterprise managers to know the cost of the product directly or indirectly, and a management account concept that is used in full cost accounting.
What is the nature of opportunity cost?
In economics, the opportunity cost is the next best alternative forgone in a decision. The next best alternative is determined by the values of the consumer making the decision.For example: a consumer must to choose between going to the beach, going to the cinema, or staying at home for the day (they can only do one of these for the day). The consumer values the options in this order (from most-desired to least-desired): 1) going to the beach, 2) going to the cinema, 3) staying at home. If the consumer decides to go to the beach, the opportunity cost is going to the cinema, as this is the next best alternative for the consumer. Staying at home is not the opportunity cost, as it is not the next best alternative.There is only one opportunity cost in a decision; this is the next best alternative. All other less-desirable alternatives are not considered opportunity costs in a decision.
What economic term for what you lose when using resources for something else?
The economic term for what you lose when using resources for something else is known as opportunity cost.
