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opportunity cost |
Also found in: Medical, Financial, Wikipedia, Hutchinson | 0.04 sec. |
opportunity costIn economic terms, the opportunities forgone in the choice of one expenditure over others. For a consumer with a fixed income, the opportunity cost of buying a new dishwasher might be the value of a vacation trip never taken or several suits of clothes unbought. The concept of opportunity cost allows economists to examine the relative monetary values of various goods and services. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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But Singer and Mason uncover the high and hidden cost of cheap chicken (and eggs and milk) when they take us behind the meat and dairy counters to factory farms that no agribusiness representative wants anyone to see. The authors did not mention the hidden cost sharing due to government mandates. There can also be a hidden cost for each scan, of between $1,100 and $3,500, borne by the U. |
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