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What is opportunity Cost?
No matter what, you always have decisions to make. In Economics, there is a general problem of scarcity.
Scarcity of natural resources, capital, labour and or entrepreneurship.

The opportunity cost of a choice is the value of the best alternative that could have been chosen but was not. In short, it is the opportunity you will now miss out on because of your decision.

For example, a chicken can be cut into pieces and sold at a supermarket, be put into a chicken burger or it can be fried and sold as takeaways.
If a farmer sold a chicken to a supermarket, the farmer’s opportunity cost is the cost of selling it to KFC.

Supermarket pays $3 for a chicken
KFC would’ve paid $3.50 for the same chicken.
The opportunity cost is thus $3.50

Finance and economics revealed
@Finance and economics revealed