Difference between revisions of "Opportunity Cost"
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[[Glossary | Back to Terms]] | [[Glossary | Back to Terms]] | ||
| − | "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: | + | "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: True Wisdom (chapter) in ''Kluge'', Marcus, G. |
| − | Economics the benefit that could have been gained from an alternative use of the same resource. | + | Economics: the benefit that could have been gained from an alternative use of the same resource. |
http://www.thefreedictionary.com/Opportunity+Cost | http://www.thefreedictionary.com/Opportunity+Cost | ||
Revision as of 06:52, 9 April 2012
"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: True Wisdom (chapter) in Kluge, Marcus, G.
Economics: the benefit that could have been gained from an alternative use of the same resource.
