Question

What is an opportunity cost?

Answer 1

Answer:

A choice between two equally desirable goods or services is the correct answer.

Explanation:

It is a concept of macroeconomics. It is defined as the cost and alternative of the particular choice and is the value of the most valuable choice out of all the choices which were taken. It is not shown in the financial reports. It can be used by the business owners to make informed decisions when there are many options available to them. These costs gets easily overlooked if one is not careful about it.

Answer 2

Any good or service we barter for another good or service