The real cost of a decision is the opportunity cost measured in the commodities forgone.

Question

Quizplus · Accepted Answer

The opportunity cost of a decision is the value of the next best alternative foregone, which is often measured in terms of the commodities or resources that could have been obtained if the decision had not been made. Therefore, the real cost of a decision is indeed the opportunity cost measured in the commodities forgone.

The Real Cost of a Decision Is the Opportunity Cost