Opportunity Cost



Opportunity Cost

Introduction

If one looks at the concept of the opportunity cost in a simple manner, it is the missed opportunity when any line of action is taken by a business, individual, or a government. Whenever there is any economic decision, there is bound to be the opposite of that action and the perceived benefits that are attached by this business. This is one of the more primitive and basic concepts in economics. For a business, it might be defined as the profit it would have earned and the real estate costs of the decisions if the assets would have ...