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: Marcus, G. Kluge: True Wisdom''
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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: True Wisdom (chapter) in ''Kluge'', Marcus, G.
  
I like to think of Opportunity Cost as simply, the highest valued opportunity foregone.
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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

Latest revision as of 07:52, 9 April 2012

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: True Wisdom (chapter) in Kluge, Marcus, G.

Economics: the benefit that could have been gained from an alternative use of the same resource.


http://www.thefreedictionary.com/Opportunity+Cost