opportunity cost

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opportunity cost

n. Economics
The net value or utility of the most desirable alternative to a projected course of action.

opportunity cost

n
(Economics) economics the benefit that could have been gained from an alternative use of the same resource

opportunity cost

The benefit that is sacrificed by choosing one course of action rather than the next best alternative, e.g. the opportunity cost sacrificed in building a road might be use of the land for farming.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.opportunity cost - cost in terms of foregoing alternatives
cost - the total spent for goods or services including money and time and labor
capital cost, cost of capital - the opportunity cost of the funds employed as the result of an investment decision; the rate of return that a business could earn if it chose another investment with equivalent risk
carrying cost, carrying charge - the opportunity cost of unproductive assets; the expense incurred by ownership
References in periodicals archive ?
This programme with MD 24-7 proprietary telemonitoring technology and virtual clinics allows patients to be monitored and treated in the comfort of their homes and/or offices and at the same time save approximately 50 percent of alternative cost.
While Welsh concedes that putting in place and maintaining a top-of-the-line cybersecurity system can be costly and disruptive, he urged broadcasters to consider the alternative cost if their operations become compromised because of successful cyberattacks.
The programme, with MD 24-7 tele-monitoring technology and virtual clinics, allows patients to be monitored and treated in the comfort of their homes or offices and save about 50 per cent of alternative cost.
This unique programme with MD 24-7 proprietary tele-monitoring technology and virtual clinics allows patients to be treated in the comfort of their homes and/or offices and at the same time save approximately 50 per cent of alternative cost.
It is encouraging that PJM listened to the concerns of the citizens of Maryland and Delaware and developed alternative cost allocation methods that are much more equitable to Delmarva residents and businesses, said Governor Hogan.
The PWF realizes that there must be an alternative cost effective mechanism at the disposal of the workers to provide them with legal relief and to represent them in courts.
However, the alternative cost for not maintaining equipment will be much higher since it will lead to the following issues: lost productivity, prematurely retiring equipment and the need to replace equipment.
Dr Evans said: "I expect that we will see price rises towards the true cost of production or the alternative cost of import.
Announcing its decision to withdraw Borealis said: "Recent economic developments in Europe have forced the rotomoulding industry to focus on a shrinking end user market and to look for alternative cost efficient solutions.
But he added the alternative cost of a complete collapse of the financial system would be "Incalculable".
JLR chief executive David Smith told yesterday's automotive summit organised by the Birmingham Mail's sister paper, the Birmingham Post, at the ICC: "We are working very hard with our unions to avoid any further redundancies by finding alternative cost actions.
Regarding its previously announced cost reduction program, EI said it "has engaged with unions in order to seek alternative cost reduction proposals" but that in the "absence of alternatives" it will proceed with the approved plans "required to ensure the group's long-term viability as an independent airline" beginning Dec.

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