Jun 10, 2025 · Opportunity cost refers to the potential profit provided by a missed opportunity—the result of choosing one alternative for your money over another.

In economics, opportunity cost refers to the potential benefit or gain that is given up when choosing one option over others.

Opportunity cost stands as one of the most fundamental concepts in economics, representing the value of what must be given up when making a choice. This could be in terms of money, but …

Oct 17, 2025 · In economics, the concept of opportunity cost is a fundamental principle that influences decision-making at all levels. It refers to the potential benefits or opportunities that …

In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually …

The idea behind opportunity cost is that the cost of one item is the lost opportunity to do or consume something else; in short, opportunity cost is the value of the next best alternative.

Opportunity Cost, from the Concise Encyclopedia of Economics When economists refer to the “opportunity cost” of a resource, they mean the value of the next-highest-valued alternative …