Concept of Opportunity Cost
It works best when there is a common unit of measure such as money spent or time used. It is the value of the next best thing you give up whenever a decision is made by you. Teaching Strategy Ss3e4 Explain The Concept Of Opportunity Cost As It Relates To Making A Saving Or Spending Choi Opportunity Cost Teaching Strategies Teaching Microeconomics is concerned with the decision-making processes of businesses and individuals looking to increase their rate of return. . As an investor opportunity cost means that your investment choices will always. The massive increase in the need for intensive care has largely limited and exacerbated the departments ability to address routine health problems. In managerial decision-making a cost is not really a cost unless it requires a sacrifice of alternatives ie unless it is an opportunity cost. If there is no opportunity cost in consuming a good we can term it a free good. Concept of Oppo...