Opportunity cost

Opportunity cost

(n)

Anh

ˌɒpəˈtjuːnɪti kɒst

Mỹ

ˌɑpərˈtunəti kɑst

Giải nghĩa: The loss of other alternatives when one alternative is chosen.

Nghĩa: Chi phí cơ hội

Không phổ biến

Cách sử dụng từ vựng "Opportunity cost" trong câu (ví dụ)

Opportunity cost is the value of the next best thing you give up whenever you make a decision.

The idea of an opportunity cost was first begun by John Stuart Mill.

The utility has to be more than the opportunity cost for it to be a good choice in economics.

For example, opportunity cost is how much leisure time we give up to work.

By choosing to go to university, your opportunity cost is losing your job and your pay check.

Even though going back to university has a big opportunity cost, many people think it is a good decision because increased education gives you more job opportunities.

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.