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opportunity cost |
Also found in: Dictionary/thesaurus, Medical, Financial, Wikipedia, Hutchinson | 0.01 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. |
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If you run cash balances too loose, you risk opportunity costs and the potential loss as a result of less than desired levels of controls. To store for 7 months equals 35 cents of opportunity cost. As with most farmers, you didn’t account for the opportunity cost of money. |
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opportunity cost
