what is oppurtunity cost

Answers were Sorted based on User's Feedback



what is oppurtunity cost..

Answer / nagaraj goud

The cost of an alternative that must be forgone in order to
pursue a certain action. Put another way, the benefits you
could have received by taking an alternative action.

Example: if a gardener decides to grow carrots, his or her
opportunity cost is the alternative crop that might have
been grown instead (potatoes, tomatoes, pumpkins, etc.).

Is This Answer Correct ?    24 Yes 0 No

what is oppurtunity cost..

Answer / jj

Opportunity cost is the next best alternative forgone for
receiving another benefits...
eg: if u own a car.....
U have two options
1-Use for your own use
2-Rent it to some others
If u use ur car for rental purpose u will get rent....
But if u use it for ur own purpose the amount that u loose
as for rental is ur opportunity cost........

Is This Answer Correct ?    11 Yes 2 No

what is oppurtunity cost..

Answer / hemanth.n.s

Opportunity cost is the next best alternative forgone.

Is This Answer Correct ?    6 Yes 0 No

what is oppurtunity cost..

Answer / titilayo ayomide

Opportunity cost is the value of a product forgone to
produce or obtain another product.

Is This Answer Correct ?    6 Yes 1 No

what is oppurtunity cost..

Answer / vijay gawalkar

Scarcity of resources is one of the more basic concepts of
economics. scarvity necessitates trade-offs, and trade-offs
result in an opportunity cost. While the cost of a good or
service often is thought of in monetary terms, the
opportunity cost of a decision is based on what must be
given up (the next best alternative) as a result of the
decision. Any decision that involves a choice between two
or more options has an opprtunity cost.

Is This Answer Correct ?    6 Yes 3 No

what is oppurtunity cost..

Answer / balraj

in simple words opportunity cost means forgone cost of the
foregone period

Is This Answer Correct ?    1 Yes 1 No

Post New Answer

More Accounting AllOther Interview Questions

how to calculate LTA with out Bills?

1 Answers  


pls explain the clear difference between Depreciation and Demortization?

5 Answers   HSBC, Syntel,


plz tell me the finance questions asked in hsbc latest question asked in hsbc?

0 Answers  


What is enty in Tally of newly capital brought to start business?

18 Answers   Gupta,


what is current ratio and how it is calculated

1 Answers  






Expand B L

1 Answers  


What is the meaning of bank reconcilation statement (brs)???

18 Answers   Accenture, AirTech, Anantha Infra, BRS, HP, Wipro,


How baddebts received effects in trial balance and balancesheet

1 Answers  


What do you means strength of a person in accounting term

1 Answers  


what is similarites between tata motors and airtel

0 Answers   Airtel,


what is joint venture?

0 Answers   Wipro,


My name is Tasha actually I had put my file for Australia PR on basis of Hairdresser, and I have shown my qualification of 10th passed, but I done my B.Com with Accountancy, and presently I am working as Accountant,Now I want to put up my file for Australia Student is it possible, and my age is 36 yrs, I had already given my IELTS (Academic) and I have scored 6 bands, but its period has been expired,please give me some answer what to do next.

0 Answers   Australia Visa,


Categories