Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

Costing is often a very confusing and frustrating topic with its standard costs, variable costs, fixed costs, marginal costs, budgeted costs, actual costs, relevant costs, etc. Why compound the ...

Broad majorities of Americans say college simply costs too much and doesn’t provide enough benefits to be worth the effort — ...

Opportunity cost is the highest-valued alternative we give up when we make a choice. Marrying Sue means not marrying Jane. Going to the gym means not reading a book or watching TV. (Although, I’ve ...

In making an important decision, most people consider pros and cons but are less likely to consider another key factor: opportunity cost. That refers to what you could otherwise do with the time or ...

Everything we do and every choice we make has an opportunity cost. In a world of scarce time and resources each choice necessarily means rejecting many other possible opportunities. One of the best ...

When we choose to spend $10 more than usual for a bottle of wine, we'll have $10 less to spend on an appetizer, a dessert, or ten songs on iTunes. That's known as the "opportunity cost" of that choice ...

The White House has released a booklet called “The Opportunity Costs of Socialism,” and it purports to show that wait times under socialist health care systems are far higher than they are in the good ...

The cost of tariffs gets a lot of popular media attention, but it's a shallow treatment of a complex disease. Yesterday Bloomberg ran a piece titled, “The Age of Global Supply Chains Is in Trouble,” ...

The second half of the 2020s alters the course of human civilization. The hockey-stick curve of artificial intelligence development — beginning with the 2022 rollout of ChatGPT — delivers what ...