Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

Essentially, opportunity cost is the potential benefits or gains an investor, consumer or business misses out on when one alternative is chosen over another. Here are some key takeaways: You cannot ...

Businesses make a variety of decisions on a daily basis: choosing the appropriate amount of inventory, balancing cash flows and selecting the ideal marketing plan are just a few. However, since ...

Once you understand opportunity cost, you’ll make smarter financial decisions, especially when you’re managing side gigs or investing your effort, time and money. Here’s what you should know, so you ...

Opportunity costs are not actual expenses you incur while doing business, but they could represent a loss to business revenue that's greater than your actual out-of-pocket expenses. Some opportunity ...

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There's a cost in every choice you make. To make the best choices for yourself, you need to look at what you're getting and what you're giving up, and then factor in your own personal values. It’s an ...

Whether it means investing in one stock over another or simply opting to study for a big math exam instead of meeting a friend for pizza, opportunity cost pervades every facet of life. That’s because ...

Cost benefit analysis is a strategy used by businesses and individuals to weigh the potential outcome of an action in order to make a decision. One of the main ways people make decisions is by using a ...