Meaning & use
opportunity cost
The value of the best alternative given up when a person chooses one option over another.
See it in a sentence
The opportunity cost of attending college full-time includes the salary she could have earned by working instead.
Choosing to watch television all evening has an opportunity cost: the exercise or reading you gave up.
A note on using this word
Opportunity cost is a core concept in economics, reminding decision-makers that every choice involves giving up other possibilities.
Words with a similar meaning
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