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Any business tries to use its resources efficiently. No one has unlimited resources, so it's critical that you make smart choices about using what you do have. Those decisions are influenced by what ...

Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

Opportunity costs are not actual expenses you incur while doing business, but they could represent a loss to business revenue that's greater than your actual out-of-pocket expenses. Some opportunity ...