Opportunity Cost
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Description
Opportunity cost is the potential benefit that is given up when one alternative is selected over another.
It is the most valuable alternative that is given up if a particular investment is undertaken.
Concept Prerequisite
Wikipedia Reference
https://en.wikipedia.org/wiki/Opportunity cost
Learning Material
Covered in Topic(s)
Competitive Advantage and Firm Performance |
Cost Terms Concepts and Classification |
Making Capital Investment Decisions |