Opportunity costs should not be included as they are missed opportunities.

Name: Opportunity costs should not be included as they are missed opportunities.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

Opportunity costs are important to consider because they represent the value of the next best alternative that is foregone in making a decision. Ignoring opportunity costs can lead to poor decision making as it fails to account for the potential benefits that could have been gained from the foregone alternative.

Opportunity Costs Should Not Be Included as They Are Missed