Live revision! Join us for our free exam revision livestreams Watch now


Opportunity cost

The cost of any choice in terms of the next best alternative sacrificed.

Opportunity costs describe the unavoidable trade-offs in the presence of scarcity: satisfying one objective more means satisfying other objectives less

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.