enow.com Web Search

Search results

  1. Results from the WOW.Com Content Network
  2. Opportunity cost - Wikipedia

    en.wikipedia.org/wiki/Opportunity_cost

    Examples of implicit costs regarding production are mainly resources ... Opportunity cost, as such, is an economic concept in economic theory which is used to ...

  3. Opportunity Cost: Definition and Examples - AOL

    www.aol.com/news/opportunity-cost-definition...

    Opportunity cost is a basic microeconomics concept, maybe one you learned in a long-ago and hazily recollected 8 a.m. Econ 101 lecture. If you need a refresher, opportunity cost is the benefit you ...

  4. Implicit cost - Wikipedia

    en.wikipedia.org/wiki/Implicit_cost

    In economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent. It is the opposite of an explicit cost, which is borne directly. [1]

  5. Comparative advantage - Wikipedia

    en.wikipedia.org/wiki/Comparative_advantage

    A good can be produced at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. [1] Comparative advantage describes the economic reality of the gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress. [2]

  6. What is Opportunity Cost? - AOL

    www.aol.com/news/2013-04-01-financial-literacy...

    Opportunity cost is also often defined, more specifically, as the highest-value opportunity forgone. So let's say you could have become a brain surgeon, earning $250,000 per year, instead of a ...

  7. What Is Opportunity Cost? How To Use It To Boost Side Gig ...

    www.aol.com/opportunity-cost-boost-side-gig...

    As economic theories go, this one can feel a bit existential and harder to calculate. ... Opportunity Cost Examples. Opportunity cost can also be considered as the value of the resource in its ...

  8. Economics - Wikipedia

    en.wikipedia.org/wiki/Economics

    An example that combines features above is a country that specialises in the production of high-tech knowledge products, as developed countries do, and trades with developing nations for goods produced in factories where labour is relatively cheap and plentiful, resulting in different in opportunity costs of production.

  9. Trade-off - Wikipedia

    en.wikipedia.org/wiki/Trade-off

    In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.