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What Is Opportunity Cost? Explained with Simple Examples
13:22
YouTubeEconbusters
What Is Opportunity Cost? Explained with Simple Examples
Opportunity cost is one of the most important concepts in economics. Economists will tell you it is the correct/true way to conceive of costs. In a nutshell, it is everything foregone. To make sure you correctly capture the opportunity cost of a decision, take time to assess the explicit and implicit cost. Finally, why is there no such thing as ...
7.4K viewsAug 14, 2023
Shorts
What Is Opportunity Cost? Simple Explanation for Beginners
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What Is Opportunity Cost? Simple Explanation for Beginners
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"Opportunity Cost" Explained: Every Yes Is a Hidden No
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