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Opportunity Cost

Alternative Cost

When presented with multiple opportunities, the cost of making a certain choice in comparison to its alternatives.

External Pages About Opportunity Cost

Encyclopædia Britannica Online ID

Encyclopædia Britannica Online

Encyclopædia Britannica Online ID

Encyclopædia Britannica Online

Statements about Opportunity Cost

Subclass Of

Economic Value
Represents
:
Option

Instance Of

Economic Concept

Represents

Monetary Cost
Relative To
:
Option

Facet Of

Decision Making
Trade-Off

Has Cause

Disjointness
Applies to Part
:
Option
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