Asked by
Keona McGee
on Dec 02, 2024Verified
The opportunity cost of using a resource in some way, is the amount the resource could earn if used in an alternative way.
Opportunity Cost
Opportunity cost refers to the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
Resource
In finance, a resource refers to any financial asset or input that can contribute to a firm's ability to create goods, services, or further financial gains.
- Comprehend the principle of opportunity cost within the realm of making investment choices.
Verified Answer
MF
Learning Objectives
- Comprehend the principle of opportunity cost within the realm of making investment choices.
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