Concept
Opportunity Cost
The value of the next best alternative that is given up when a particular choice or resource allocation is made.
Opportunity Cost
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… interest rates go down, that means opportunity costs are lower. And so when opportunity costs are lower, uh people are doing things like just hiring that extra person
Concept
Opportunity Cost
The value of the next best alternative that is given up when a particular choice or resource allocation is made.
Related Concepts1
Related Frameworks2
Related Practices6
Ask about this concept
Transcript mentions
… interest rates go down, that means opportunity costs are lower. And so when opportunity costs are lower, uh people are doing things like just hiring that extra person