Opportunity cost

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

As a result of choosing one option over another, you calculate opportunity cost (also called an implicit cost). Intangibles like time with friends and family and tangible trade-offs like money come into play.

"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:..."

Get great insurance coverage and affordable insurance rates

You don’t play games without knowing the rules first. With money, it’s no different. You have to learn the rules first. Personal finance | Money | Spend your money wisely

If you're anything like me, there are always a thousand projects rolling around in your head. I tend to float from one idea or project to the next and

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

Ask The Expert: OH Member Michelle sent a few of her questions in to AskOH@ObesityHelp.com and Doctor Simpson answered!

Learn Bank Financing and What is the Banking System, with these simple, visual, stress-saving financial tips from Napkin Finance.

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.