What does Opportunity Cost mean? Read on to discover the definition & meaning of the term Opportunity Cost - to help you better understand the language used in insurance policies.
Opportunity cost is the value that is lost when a person rejects one option in favor of another. This is a term in finance that acknowledges that there is a financial loss for every major business decision, even if it results in a greater gain, all things considered.
We hope the you have a better understanding of the meaning of Opportunity Cost.