Concept of Opportunity Cost
It is used to evaluate new projects of a company. Opportunity cost refers to a benefit that a person could have received but gave up to take another course of action. Teaching Strategy Ss3e4 Explain The Concept Of Opportunity Cost As It Relates To Making A Saving Or Spending Choi Opportunity Cost Teaching Strategies Teaching Stated differently an opportunity cost. . When you decide you feel that the choice youve made will have better results for you regardless of what you lose by making it. In short the opportunity cost of attending college is the cost of tuition This statement is not economically sound and goes against everything that you wrote before it to explain the concept of Opportunity Cost. For example if you breathe air it doesnt. Before we get into any marginal principle examples opportunity cost is one of the most basic economic concepts on the map. The opportunity cost of choosing a project over the other ie. T...