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What are opportunity costs?

What are opportunity costs? Here are some definitions.

Noun
  1. plural of opportunity cost
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Considering opportunity costs can help teach your teenagers to think very carefully when making financial decisions.
The benefits are better service quality on the one hand, and lower opportunity costs on the other.
Compensating for the real and opportunity costs can be very important to enable people to seek health care.
In evaluating the many options before government, it is important to assess the opportunity costs of the proposed measures.
Perspectives for expanding the use of new and renewable sources of energy may in part also depend on the respective opportunity costs.
South Africa also faces various opportunity costs if ratification does not take place or if delayed for an indefinite period of time.

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