Opportunity Cost

What you would be doing, if you weren’t doing this!
What you would be doing, if you weren’t doing this!

No matter what choice we make, there is an opportunity cost, or next-best alternative that must be sacrificed. Every time we make a choice we experience an opportunity cost. The key to making the best possible decision is to minimize your opportunity cost by selecting the option that gives you the largest benefit.

Real World Examples

Advice for Students
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What is the difference between accounting profits a...

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