What is an opportunity cost?
would be useful
and please give an example? :)
An opportunity cost is the loss of a potential gain when you choose one thing over another.
For instance, it's a saturday. You made plans with friends but you have a big project due on monday for school. the opportunity cost is finishing your project and getting a good grade, or hanging out with your friends and making memories.
hope this helps. (:
Source(s):4 months ago
The opportunity cost is what is lost when you do something.
Say you have the chances to go to a party or go to the track meet you've been wanting to go to for such a long time now.
If you decide to go to the party, your opportunity cost is the track meet since you won't be able to go to it.
If you decide to go to the track meet, you won't be able to go to the party so there is the opportunity cost of it.
Source(s)by Jessica - 4 months ago