opportunity cost
when presented with multiple opportunities, the cost of making a certain choice in comparison to its alternatives
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opportunity cost
Summary
opportunity cost is an economic concept[1]. It ranks in the top 7% of economic_concept entities by monthly Wikipedia readership (1,214 views/month).[2]
Key Facts
- opportunity cost's instance of is recorded as economic concept[3].
- opportunity cost is a type of economic value[4].
- opportunity cost's has cause is recorded as disjointness[5].
- opportunity cost's represents is recorded as monetary cost[6].
- opportunity cost's facet of is recorded as decision making[7].
- opportunity cost's facet of is recorded as trade-off[8].
Body
Definition and Type
opportunity cost's instance of is recorded as economic concept[3]. It is a type of economic value[4].
Why It Matters
opportunity cost ranks in the top 7% of economic_concept entities by monthly Wikipedia readership (1,214 views/month).[2] It has Wikipedia articles in 29 language editions, a strong signal of global cultural recognition.[9] It is known by 29 alternative names across languages and contexts.[10]