Real-Life Examples of Opportunity Cost

Doreen Fagan

Open Vault from Federal Reserve Bank of St. Louis

Abstract: How do we define opportunity cost? It’s the 'value of the next-best alternative when a decision is made; it's what is given up,' explains Senior Economic Education Specialist Andrea Caceres-Santamaria.

Keywords: opportunity cost; decisionmaking (search for similar items in EconPapers)
Date: 2026-06-03
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