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22 October, 06:54

What is the economic term for what you lose when using resources for something else?

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  1. 22 October, 07:12
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    The economic term for this is "opportunity cost".

    Opportunity cost is the cost of the options that one is not choosing. This means that if one has to choose between A and B, opportunity cost is the cost of "giving up B" when one chooses A.
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