Changes

It is not necessarily associated with a monetary cost, and can be applied to any desicion of value.  For example, a person could choose to eat pizza instead of a salad for lunch.  Because they passed up the ''opportunity'' to eat a salad, the salad is an opportunity cost.

It is not necessarily associated with a monetary cost, and can be applied to any desicion of value.  For example, a person could choose to eat pizza instead of a salad for lunch.  Because they passed up the ''opportunity'' to eat a salad, the salad is an opportunity cost.

Opportunity cost is not recognized in calculating accounting cost and profits, but is recognized in calculating economic costs and profits.

Opportunity cost is not recognized in calculating [[accounting]] cost and profits, but is recognized in calculating [[economic]] costs and profits.

[[Category:Economics]]

[[Category:Economics]]