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Concept information

social science subjects > economics > economic concepts > opportunity costs
social science subjects > business and management > business ethics > finance ethics > opportunity costs
social science subjects > business and management > finance > opportunity costs
... > social science subjects > health and social care > medical science > medicine > clinical medicine > medical decision making > health outcomes and measurement > opportunity costs
... > other subjects > natural sciences > life sciences > medical science > medicine > clinical medicine > medical decision making > health outcomes and measurement > opportunity costs

Preferred term

opportunity costs  

Definition

  • Opportunity cost is defined as the value given up by selecting one of a group of mutually exclusive alternatives. The fundamental economic problem is one of scarcity. [Source: Encyclopedia of Business Ethics and Society; Opportunity Cost]

Broader concept

Belongs to group

URI

http://data.loterre.fr/ark:/67375/N9J-Z1S8XJH3-N

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