what is opportunity cost?
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opportunity cost
nounECONOMICS
the loss of other alternatives when one alternative is chosen.
"idle cash balances represent an opportunity cost in terms of lost interest"
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Explanation:
Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. ... While financial reports do not show opportunity costs, business owners often use the concept to make educated decisions when they have multiple options before them.
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