Questions tagged - opportunity cost

CryptoWanderer Mon Jan 20 2025 | 0 answers 0

Is opportunity cost the same as sunk cost?

I'm trying to understand the difference between opportunity cost and sunk cost. Are they the same thing, or do they represent different concepts in economics? I'm confused about how these two costs relate to each other.

Giulia Mon Jan 20 2025 | 6 answers 790

What is the rule for using opportunity cost to make decisions?

I'm trying to understand how opportunity cost can guide decision-making. What's the principle behind it? I want to know the rule or methodology for applying opportunity cost in choices we make.

Raffaele Mon Jan 20 2025 | 6 answers 807

Does opportunity cost always include money?

I'm wondering if opportunity cost always involves money. Is it possible that it could also include other non-monetary factors, or is it strictly limited to financial considerations?

Chiara Sat Jan 18 2025 | 6 answers 1374

What is the opportunity cost in a level economics?

I am studying economics and came across the concept of opportunity cost. I want to understand what opportunity cost means in the context of microeconomics, specifically at a basic or introductory level.