Results for: Opportunity-cost

Distinguish opportunity cost and out of pocket cost?

Opportunity cost is the cost that one incurs from not taking an action as compared to taking another action. Stock markets are a good example of this. Say you can invest in co (MORE)

Importance of opportunity cost?

1 The opportunity cost isalso the cost of the foregone products after making a choice. Opportunity cost is a key concept in economics, and has been described as expressing "t (MORE)

Is opportunity costs the same as variable costs?

  No, the two are very different. Opportunity cost is the cost of a decision made that is considered the value of an alternative that is forgone. For example, if there is (MORE)

Meaning of opportunity cost?

Opportunity cost is the measure of utility (personal satisfaction or pleasure that one derives from an action) that could have been earned or gained by choosing the alternativ (MORE)

What opportuning cost?

The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the (MORE)