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Opportunity Cost

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Opportunity cost Summary

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Dictionary of Environmental Health

opportunity cost

The non-monetary cost of undertaking an action or performing a function. Such a cost comprises the use of resources, locations and time that would otherwise be available for other purposes.

Generally for something to be described as an opportunity cost is an indication that, if it were not being used for that to which it is ascribed as an opportunity cost, it would otherwise be deployed elsewhere. Some sources suggest that resources or locations that would otherwise be held in storage or unused can be held to be opportunity costs if they are used.

This is the complete article, containing 96 words (approx. 1 page at 300 words per page).

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Copyrights
Opportunity Cost from Dictionary of Environmental Health. ISBN: 0-203-16591-8. Published: 2003–07–18. ©2009 Taylor and Francis. All rights reserved.



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