Opportunity cost

Sketchbook Drawing, Pen on Paper

Sketchbook Drawing, Pen on Paper

“Opportunity cost or economic opportunity loss is the value of the next best alternative forgone as the result of making a decision.[1] Opportunity cost analysis is an important part of a company’s decision-making processes but is not treated as an actual cost in any financial statement.[2] The next best thing that a person can engage in is referred to as the opportunity cost of doing the best thing and ignoring the next best thing to be done.” – Wikipedia

Categories: Sketching

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