Difference between revisions of "Opportunity cost"
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'''Opportunity cost''' is the cost of any activity measured in terms of the value of the next best alternative foregone (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several mutually exclusive choices<ref name="ftn101"> [[wikipedia:opportunity cost|source: wikipedia]]</ref> |
'''Opportunity cost''' is the cost of any activity measured in terms of the value of the next best alternative foregone (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several mutually exclusive choices<ref name="ftn101"> [[wikipedia:opportunity cost|source: wikipedia]]</ref> |
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| + | ==Related subjects== |
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| + | [[The economics of criminal and terrorist behaviour|The economics of criminal& terrorist behaviour]] |
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Revision as of 15:45, 20 March 2012
Opportunity cost
Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative foregone (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several mutually exclusive choices[1]
Related subjects
The economics of criminal& terrorist behaviour
Footnotes and references
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