opportunity cost of saving is when you save money then economically spend from your saving this may vary to what person you are
Opportunity Cost can vary depending on what you are giving up exactly.
"Opportunity cost" could be opportunities for US/Iraqi contract employment for bettering their nation.
The opportunity cost were the consumer goods and services.
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 next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company's decision-making processes, but is not treated as an actual cost in any financial statement.
Opportunity cost is the highest-valued alternative foregone in order to take an economic action.
yjukryj
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Opportunity cost can also deal with time. For example, shopping at Wal-mart versus shopping at sears, Khols, and giant eagle will lower your opportunity cost. At Wal-mart you'll be able to find many of the items you'd typically be looking for when shopping (whether they are better or not is up to you). My point is that from this example, your opportunity cost is lower shopping at W-mart because you are saving time. In my opinion, opportunity cost means "time is money."
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Opportunity cost is something for the next porpose.
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
If something is saving cost it means that you are not spending as much money. Packing a lunch is cost saving because you are not spending as much money to eat lunch out.
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Opportunity Cost can vary depending on what you are giving up exactly.
As we decide to choose more units of anything, the opportunity cost of each additional unit will rise. This means that the opportunity cost of the second unit will be greater than that of the first unit. The opportunity cost of the third unit will be greater than that of the second unit. And so forththe law of opportunity cost states that the more of a product that is produced,the greater is its opportunity cost,hence increasing marginal opportunity cost in simple terms refers to an extra or additional opportunity cost of foregoing other products to produce a unit of another product
Real cost is the price which is real not a fake price
Opportunity cost is fundamental in understanding the true economist cost (and thus profitability) of actions.