Meaning of opportunity cost | Babel Free

Definitions

The cost of an opportunity forgone (and the loss of the benefits that could be received from that opportunity); the most valuable forgone alternative.

Equivalents

Examples

“Implicit in this fixation with time is the thesis that the opportunity cost of regular shopping is too high – that the hours spent driving to the better bookstore in the next town can be spent doing something more valuable.”

“Thanks to business school, I can understand how I've actually paid for this time at home with my family—the opportunity cost of my time, my forgone income, etc.”

CEFR level