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WebMar 22, 2024 · Level: Opportunity cost is the cost of missing out on the next best alternative. In other words, opportunity cost represents the benefits that could have been gained by taking a different decision. All businesses have to make choices - and those choices have implications. In business, resources are usually scarce or limited. WebJan 19, 2024 · The idea of trade-offs is one of the most basic principles in economics, that in order to have more of one thing, you have to accept having less of something else. … rivallay 小岩
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