Opportunity cost is the next best alternative that had to be sacrificed (given up) to pursue a certain undertaking.
The loss of value or benefit that would result from engaging in a certain activity option in comparison to engaging in an alternative activity that offers a higher return in value or benefit is known as the opportunity cost.
Opportunity cost is the profit that is forfeited when one option is chosen over another. The idea serves merely as a reminder to weigh all viable options before making a choice. For instance, you decide to invest $1,000,000 in a line of goods that will yield a 5% return.
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