Alternatives

(n)

ɔːlˈtɜːnətɪvz

ɔlˈtɜrnətɪvz

Definition: (of one or more things) available as another possibility or choice.

Meaning: Lựa chọn thay thế

Less Common

How to use "Alternatives" vocabulary in sentence (example)

Before Koenigsegg developed a coating that turns black carbon fibers into white dazzling alternatives, vehicles only had the usual black available.

It is "the loss of potential gain from other alternatives when one alternative is chosen".

And in the other words " Opportunity Cost " can be termed as cost of forgone alternatives or cost of shifting from one opportunity to the other.