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opportunity cost
(redirected from Oppurtunity Cost)

    Also found in: Medical, Financial, Wikipedia, Hutchinson 0.07 sec.

opportunity cost

In 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.
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