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Aparna
Aparna

Aparna

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Aparna
Asked: September 30, 20212021-09-30T17:38:16+05:30 2021-09-30T17:38:16+05:30In: Economics

What is Opportunity Cost?

What is Opportunity Cost?

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      [Deleted User]
      2021-09-30T17:39:54+05:30Added an answer on September 30, 2021 at 5:39 pm

      Opportunity Cost

      • Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. The idea of opportunity costs is a major concept in economics.
      • Because by definition they are unseen, opportunity costs can be easily overlooked if one is not careful. Understanding the potential missed opportunities foregone by choosing one investment over another allows for better decision-making.
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