An opportunity cost is the cost of acquiring a good or service or of taking an action measured in terms of a forgone alternative.

Name: An opportunity cost is the cost of acquiring a good or service or of taking an action measured in terms of a forgone alternative.
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Opportunity cost refers to the value of the next best alternative that is given up when making a choice. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

An Opportunity Cost Is the Cost of Acquiring a Good