What is Opportunity Cost?
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Our glossary is short, sweet, and to the point!
In this video, we will be discussing the concept of Opportunity Cost.
We will define it and give examples of how it applies in real-life situations.
Opportunity cost is an economic term that refers to the cost of an alternative that must be forgone to pursue a specific action.
It is the second-best choice available. We will show you in a brief, easy-to-follow way how this concept applies to personal and business decision-making and provide examples to help illustrate the point.
This video is perfect for anyone interested in understanding the fundamental principles of opportunity cost.
👉 Want more? Visit the Project Management Glossary: [ Ссылка ]
