Opportunity cost
Definitions
2
Posts
2
Posters
137
Views
-
The cost of [choosing] one course of action over another. Letting your [second best] option pass.
Economists tend to measure opportunity cost in terms of money for [simplicitys] sake. However value isnt always monetary. -
the value of the action that you do not choose, when choosing between two possible options:
Explore More Definitions
Browse our collection of 300,000+ community-written definitions