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  • Animation Artist Celeste Lai
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In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.

AMT are global experts in financial training, supporting our clients by delivering tailored learning and equipping employees with the skills and tools they require for success across financial markets and related sectors.

Need help figuring out how to solve the formula in this lesson? Check out this lesson on the order of operations.

How does this principle apply to interest rates on your mortgage? What if you want to buy a house? Check out this explanation from Khan Academy.

The value of money is determined by how much (or how little) of it is in circulation. But who makes that decision, and how does their choice affect the economy at large? Doug Levinson takes a trip into the United States Federal Reserve, examining how the people who work there aim to balance the value of the dollar to prevent inflation or deflation.
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Lesson Creator
New York, NY
Well, most of us can't tell the two brats (the lady and the men) unless you've got some "super power".
07/24/2014 • 
 14 Responses
 / 14 Updates