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- Dictionaryopportunity cost
noun
- 1. the loss of other alternatives when one alternative is chosen: "idle cash balances represent an opportunity cost in terms of lost interest"
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noun
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When presented with multiple opportunities, the cost of making a certain choice in comparison to its alternatives
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would have been had if the second best available choice had been taken instead. The New Oxford Am... Wikipedia