Opportunity cost

The concept of opportunity cost occupies an important place in economic theory. Wieser first developed the concept.

Heavy industry refers to a type of business that usually carries a high capital cost, high barriers to entry, and low transportability.

Thanks to everyone who submitted economics posters. Here are a few of our favorites.

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"Opportunity cost is the understanding that for every new opportunity that we accept, such as losing weight, there is another opportunity that we must let go of, such as eating junk food. Here’s an example to illustrate the point:..."

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opportunity cost of capital is incremental return that one foregoes by investing in an internal project, rather than in marketable security.

Friday Fun: The opportunity cost of actuarial exams.

A ¥en to Trade lessons are written to help middle school students understand the basic rationale for making trades, the gains possible from trade, and how trading is done. Through simulations and other active-learning strategies, the lessons teach fundamental economic concepts such as scarcity, economic wants, resources, goods and services, opportunity cost, and money, as well as international trade concepts such as exports, imports, tariffs, quotas, exchange rates, and trade routes.

In tough times, companies hunt for new sources of #Profitability and #Growth. Many #Businesses overlook opportunities for #GeneratingSales from services they’re giving customers for #Free. Though it sometimes makes sense to stick with a #FreeModel, companies too often make that the default option, which a costly mistake. See Bill It, Kill It, or Keep It Free?

Understand the Opportunity Cost of ONE-HOUR in your life so that you can Re-think and better design a life of Financial Independence that works for you. #financialindependence #financialfreedom #opportunitycost #productivity #lifedesign #personaldevelopment via @TheHumblePenny

If someone offered you $50 per cookie, and it took you one minute to make 1 cookie, then you might happily produce 60 cookies per hour. If you bought a new oven or invented a new method that let you make 2 cookies per minute, then you would produce 120 cookies per hour. That would indicate a shift in your supply curve.

Student Activity: SS2E1 Explain that because of scarcity, people must make choices that result in opportunity costs. This worksheet has students pick one item and explain opportunity costs and how it made them feel.

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10 ways to assess if an opportunity is right for you + your business from Dear Handmade Life