Opportunity Cost

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Time is

money
Opportunity
Cost
Every choice has a value to you
Opportunity cost

Explicit cost Implicit cost


Definition
Opportunity cost is the loss of potential gain
from other alternatives when one is chosen.
Example

iPhone 14 Samsung Galaxy


Pro Max S22 Ultra

Opportunity cost is the value of the opportunity lost.


Value

Greatest Lowest
Benefits Costs

< >
Company A Company B
$20/hour $10/hour
(Benefits)

Think economically is looking at the


value of choice through the eye of the
benefits and the costs.
$1
5K
Conclusion
The opportunity cost of a choice is what you
gave up to get it.

This concept helps us to properly evaluate


our choices between several alternative
options.
Thank you
Do you have any questions?
Le Thi Xuan Han
lethixuanhan0511@gmail.com
+84 708 431 540

CREDITS: This presentation template was created by Slidesgo, and


includes icons by Flaticon, and infographics & images by Freepik

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