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Opportunity cost

News

Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

Opportunity cost - definition

Opportunity cost is the sacrifice made in making an economic decision, expressed in terms of the next best available alternative foregone. It is a central concept in economics, and if often regarded as the 'true' cost of an economic decision.

Using production possibility fontiers to explain opportunity cost

Other stories

WTO rules

What exactly is the 'most favoured nation' rule?

Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

Customs unions

Costs and benefits of customs unions.

New materials

Multiple choice papers for Paper Three.

Savings ratio

Savings ratio falls to lowest level on record.