Tag: consumption

Opportunity Costs

See also: Decision Making Opportunity Cost Definition Opportunity Costs Definition In economics, opportunity costs refer to the value of the next-best alternative use of that resource given limited resources. They are applicable beyond finance and accounting. In daily life, opportunity costs are the benefits or pleasures foregone by choosing one alternative over another. For instance,

Read More
Scroll to Top
WIKICFO® - Browse hundreds of articles
Skip to content