opportunity cost

English

Wikipedia

Noun

opportunity cost (plural opportunity costs)

1. (economics) The cost of an opportunity forgone (and the loss of the benefits that could be received from that opportunity); the most valuable forgone alternative.
   • 2004, "Jeff Pillet-Shore: Second Year Winds Down," BusinessWeek, 7 Jun. (retrieved 30 Oct., 2008),

     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.

Synonyms

• economic cost

Related terms

• accounting cost

Translations

cost of something in terms of an opportunity forgone

• Czech: náklady obětované příležitosti (cs) m pl, náklady ušlé příležitosti (cs) m pl