The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the...
The opportunity cost of a business decision is the value of the potential benefit of the next best opportunity foregone. For example, if I have one £100 to invest, and I can invest in project A,...
cost represents the money paid for something while opritunity cost is the value of one thing is when u give of something else,like cost is these shoes cos $228or these shoes cost $456 and the others...