This document discusses the concept of opportunity cost. Opportunity cost refers to the cost of a decision in terms of the best alternative that is given up to achieve that decision. It is the best alternative that is forgone when making a choice due to scarce resources. The document notes that people must make choices everyday because of limited resources and many wants, which means deciding which wants will be satisfied and which will not. For every decision made, there is an opportunity cost.

1. MD. Tuhin Parves
ID:B3160B005

2. -We make choices every day because we have limited
resources, but so many wants. We therefore have to
decide which wants we will satisfy, and those we will
not.
Understanding Opportunity Cost

3. Opportunity cost is the cost of a decision in terms of the best alternative given up in order to achieve it.
It is the best alternative forgone.
What is Opportunity Cost?

4. Scarcity Choice Opportunity Cost
Everyone suffer from scarce resources.
As a result,They must make
choices.
For every decision made there is an
opportunity cost that must be made.

6. Thank You For Your
Patience