Opportunity cost refers to the resource use options that are given up as a consequence of pursuing one activity among several possibilities. Potential benefits foregone as a result of choosing an alternative course of action.

Was this article helpful?

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Bplans GlossaryBplans Glossary

At Bplans, it's our goal to make it easy for you to start and run your business. The Bplans glossary of common business terms will help you learn about key small business and entrepreneurship topics.