What Is the opportunity cost?

Opportunity Cost: The loss of value or benefit that would be incurred (unpleasantly become subject to) by engaging in that activity.

Real-Life Example: A farmer decides to plant wheat, the opportunity cost is planting a different crop, or an alternate (another) use of the resources, which can be land and farm equipment.

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Opportunity Costs represent the potential benefits an individual, investor or business misses out when choosing one alternative over another. For example: someone give up going to see a movie to study for a test in order to get a good grade

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