Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

Any business tries to use its resources efficiently. No one has unlimited resources, so it's critical that you make smart choices about using what you do have. Those decisions are influenced by what ...

Forbes contributors publish independent expert analyses and insights. Tim Maurer covers how personal finance is more personal than finance. May 05, 2024, 07:00am EDT Sunk cost, opportunity cost, and ...

When we choose to spend $10 more than usual for a bottle of wine, we'll have $10 less to spend on an appetizer, a dessert, or ten songs on iTunes. That's known as the "opportunity cost" of that choice ...

In making an important decision, most people consider pros and cons but are less likely to consider another key factor: opportunity cost. That refers to what you could otherwise do with the time or ...

The worst outcome of a startup project isn’t failure. If failure is quick and cheap, the value of the gained insight might outweigh the cost of the failure. The worst outcome is to join the so-called ...

You may not recognize it, but opportunity cost affects your business every single day. Opportunity cost is essentially what you give up (the benefits of the next best alternative) when you make a ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in ...

This year, as Congress debates the future of No Child Left Behind, American families and taxpayers need to consider an important question: What are we giving up to pay for it? In economics, ...

Question: My brother stole money from my parents 30 years ago. He said he was borrowing it, but he never paid it back. After they died, the stolen money was never brought up and the inheritance I got ...