Luopumiskustannus
Luopumiskustannus, often translated as opportunity cost, is an economic concept that refers to the value of the next-best alternative that must be foregone to pursue a certain action. It is not the sum of all possible alternatives, but rather the value of the single best alternative that is not chosen. This concept is fundamental to decision-making in economics and applies to individuals, businesses, and governments alike.
When making a choice, individuals implicitly or explicitly consider the luopumiskustannus. For example, if someone decides
Understanding luopumiskustannus helps in making more rational and efficient decisions. It highlights that every choice involves