Definition:An opportunity cost is the economic concept of potential benefits that a company gives up by taking an alternative action. In other words, this is the potential benefit you could have received if you had taken action A instead of action B. What Does Opportunity Cost Mean? Contents[...
Let's look at a few examples here: Example #1: A businessman decides to open a 7-11 on a piece of land that he owns, instead of a bar. The opportunity cost of opening up the 7-11 is the money that he could have made opening up the bar. Example #2: A kid can either buy a...
Opportunity cost is the profit that was lost or missed because of some action or failure to take some action. Some refer to opportunity cost as opportunity lost. Example of Opportunity Costs Assume that you want to add a website to your already successful business. You are confident that it...
What is opportunity cost? Opportunity cost refers to the value a person could have received but passed up in pursuit of another option. So, if you were to wait in line for free ice cream, you actually give up the opportunity to do somethin...
Examples of Opportunity Cost Opportunity cost permeates every area of our lives. From deciding whether to spend your day creating unbeatable offers for your customer base or spending the entire day curled up in bed with a murder mystery for company, opportunity cost is always at play. ...
Considering the costs associated even with wise decisions is important to decisions going forward. While this opportunity cost definition chiefly references business strategy, it may also be applied advantageously to personal finance decisions. Trade-off examples Having examples can help to achieve a ...
解析 B解析:答案为B项。opportunitycost“机会成本”,又称之为“择一成本”(alternativecost)。指多拥有某一物品,或是多使用资源于某一用途所必须放弃的其他物品,或是资源在其他最佳途径的代价。也就是这个被放弃的机会的价值。故本题选B项。反馈 收藏 ...
Opportunity cost is often used by investors to compare investments, but the concept can be applied to many different scenarios. If your friend chooses to quit work for a whole year to go back to school, for example, the opportunity cost of this decision is the year’s worth of lost wages...
aAll the bonding paste resins can be processed with the following specially modified curing agents: 所有接合浆糊树脂可以处理与以下特别地修改过的固化剂: [translate] aWhat is the opportunity cost of using an existing asset? Give an example of the opportunity cost of using the excess capacity of ...
What does the term "opportunity cost" refer to?A The benefits you gain from a decision.B The amount of money spent on a choice.C The time it takes to make a decision.D What you have to give up in order to get something else