Question

what is opportunity cost?​

Answer 1

Opportunity cost is an economics term that refers to the value of what you have to give up in order to choose something else.

In other word we can say that,,

When economists refer to the “opportunity cost” of a resource, they mean the value of the next-highest-valued alternative use of that resource.

If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else.

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Answer 2

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In microeconomic theory, the opportunity cost, or alternative cost, of making a particular choice is the value of the most valuable choice out of those that were not taken. In other words, opportunity will require sacrifices.