4 definitions by anthonylebrun
by anthonylebrun January 11, 2009
The cost of choosing one course of action over another. Letting your second best option pass.
Economists tend to measure opportunity cost in terms of money for simplicity's sake. However value isn't always monetary.
Economists tend to measure opportunity cost in terms of money for simplicity's sake. However value isn't always monetary.
At the restaurant, you are presented with a desert menu. Assuming that you only eat one desert, you have the choice between chocolate mouse, ice cream and honey crepes. Let's say you prefer ice cream to chocolate mouse, but honey crepes are your favorite. If you eat a honey crepe, ice cream (which would have chosen had you not had crepes) is your opportunity cost.
Another example would be if two women that you fancied, Sarah and Alice, asked you out and you said yes to Sarah (assuming monogamy), going out with Alice is your opportunity cost.
Another example would be if two women that you fancied, Sarah and Alice, asked you out and you said yes to Sarah (assuming monogamy), going out with Alice is your opportunity cost.
by anthonylebrun September 22, 2008
A rice cooker pot takes about 30 minutes to soak through before it's ready for washing. She's left hers soaking in the sink for 3 days now under that pretext!
by anthonylebrun January 25, 2009
by anthonylebrun January 31, 2009