Opportunity cost

[evol_tn]

Scarcity of resources is one of the more basic concepts of economics. Scarcity 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 opportunity cost.

Downlaod the attached doc file.

 

[ashu9801]

thanx on the dfini....... the small littel project is also useful.... when it comes to understaning the concept

 

[raviranjan]

thanx yar ..i need this concept at this crucial time.......

 

[tanmaythedude]

ive got a project n cost analysis plzzzzzzzz help

 

[velocetee]

hi buddy.....thanx for the preliminay inputs