opportunity cost
From Wiktionary, the free dictionary
Noun
opportunity cost (plural opportunity costs)
- (economics) The cost of an opportunity forgone (and the loss of the benefits that could be received from that opportunity); the most valuable forgone alternative.
- 2019 November 21, Samanth Subramanian, “How our home delivery habit reshaped the world”, in The Guardian:
- Implicit in this fixation with time is the thesis that the opportunity cost of regular shopping is too high – that the hours spent driving to the better bookstore in the next town can be spent doing something more valuable.
- 2004 June 7, “Jeff Pillet-Shore: Second Year Winds Down”, in BusinessWeek, retrieved 30 Oct., 2008:
- Thanks to business school, I can understand how I've actually paid for this time at home with my family—the opportunity cost of my time, my forgone income, etc.
Related terms
Translations
cost of something in terms of an opportunity forgone
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