Question

Short note about opportunity

Answer 1

In microeconomic theory, the opportunity cost, also known as alternative cost, is the value (not a benefit) of the choice of a best alternative cost while making a decision. A choice needs to be made between several mutually exclusive alternatives; assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would have been had by taking the second best available choice.[1] The New Oxford American Dictionarydefines it as "the loss of potential gain from other alternatives when one alternative is chosen." Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice."[2] The notion of opportunity cost plays a crucial part in attempts to ensure that scarce resources are used efficiently.[3] Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure or any other benefit that provides utility should also be considered an opportunity cost.

Answer 2

a time or set of circumstances that makes it possible to do something.

"increased opportunities for export"

synonyms:chance, lucky chance, good time, golden opportunity, time, occasion, moment, favourable time/occasion/moment, right set of circumstances, appropriate time/occasion/moment, suitable time/occasion/moment, opportune time/occasion/moment, opening, option, window (of opportunity), slot, turn, go, (clear) run, field day; More

a chance for employment or promotion.

"career opportunities in our New York headquarters"