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.

I was 23 years old when I first heard the term “opportunity cost.” I had just started working at a creative agency downtown Chicago, and the creative director (who was also one of the founders) had ...

Once you understand opportunity cost, you’ll make smarter financial decisions, especially when you’re managing side gigs or investing your effort, time and money. Here’s what you should know, so you ...

Opportunity Cost Definition Opportunity cost is the value of what you lose when you choose from two or more alternatives. It’s a core concept for both investing and life in general. When you invest, ...

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 ...

Businesses need to minimize the risk of failure and maximize the chances of success, which is why managers need facts and numbers to work with when developing business strategies and choosing options.

Whether it means investing in one stock over another or simply opting to study for a big math exam instead of meeting a friend for pizza, opportunity cost pervades every facet of life. That’s because ...