How is the concept of opportunity cost applicable in our daily life?

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asked Oct 6, 2021 86.7k views

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AndrewPt · Answer 1 · 2021-10-13T04:07:18+0000

because they are applicable beyond finance and accounting. In daily life, opportunity costs are the benefits or pleasures foregone by choosing one alternative over another.

How is the concept of opportunity cost applicable in our daily life?

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How is the concept of opportunity cost applicable in our daily life?