Difference between revisions of "Opportunity Cost"
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"Pay special attention to what some economists call "opportunity costs"; whenever you make an investment, financial or otherwise, ponder what else you might be doing instead." ''References: Marcus, G. Kluge: True Wisdom'' | "Pay special attention to what some economists call "opportunity costs"; whenever you make an investment, financial or otherwise, ponder what else you might be doing instead." ''References: Marcus, G. Kluge: True Wisdom'' | ||
| − | + | Economics the benefit that could have been gained from an alternative use of the same resource. | |
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http://www.thefreedictionary.com/Opportunity+Cost | http://www.thefreedictionary.com/Opportunity+Cost | ||
Revision as of 17:58, 30 May 2011
"Pay special attention to what some economists call "opportunity costs"; whenever you make an investment, financial or otherwise, ponder what else you might be doing instead." References: Marcus, G. Kluge: True Wisdom
Economics the benefit that could have been gained from an alternative use of the same resource.
