Cryptocurrency Q&A
What does an opportunity cost cause a person to lose?
What does an opportunity cost cause a person to lose?
Sat Jan 11 2025
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7 answers
1987
An opportunity cost causes a person to lose the potential benefits or value associated with the next best alternative choice that they could have made, but did not pursue due to selecting a different option.
7 answers
Mon Jan 13 2025
The "cost" here refers to the benefit that would have been gained if a different, albeit lesser, choice had been selected.
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Mon Jan 13 2025
In essence, it is the value of the next best alternative that is forgone.
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Mon Jan 13 2025
The concept of opportunity cost revolves around the notion of making the best possible choice.
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Mon Jan 13 2025
The New Oxford American Dictionary provides a clear definition of this concept.
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Mon Jan 13 2025
According to the dictionary, opportunity cost is the loss of potential gain from other alternatives.
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