Statements (22)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
Economic Concept
|
| gptkbp:appliesTo |
Resource Allocation
Decision Making |
| gptkbp:definedIn |
The value of the next best alternative forgone
|
| gptkbp:example |
Choosing to invest in stocks instead of bonds
Using land for housing instead of farming |
| https://www.w3.org/2000/01/rdf-schema#label |
Opportunity Cost
|
| gptkbp:importantFor |
gptkb:Production_Possibility_Frontier
Rational Choice Theory Comparative Advantage |
| gptkbp:introduced |
gptkb:John_Stuart_Mill
|
| gptkbp:measures |
Time
Money Value |
| gptkbp:relatedTo |
gptkb:Cost-Benefit_Analysis
Scarcity Trade-off |
| gptkbp:usedIn |
gptkb:business
Economics Finance |
| gptkbp:bfsParent |
gptkb:These_Things_Happen
|
| gptkbp:bfsLayer |
6
|