Dictionary

opportunity cost

opportunity cost

noun

Definition of OPPORTUNITY COST

:  the added cost of using resources (as for production or speculative investment) that is the difference between the actual value resulting from such use and that of an alternative (as another use of the same resources or an investment of equal risk but greater return)

First Known Use of OPPORTUNITY COST

1911

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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