What Is Opportunity Cost: A Fundamental Economic Concept
Concepts Corrected & verified

What Is Opportunity Cost: A Fundamental Economic Concept

Published by When Notes Fly · View original ↗

Opportunity cost represents the value of the next best alternative foregone when making a decision in economics.

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Every accepted correction to this page is recorded with the exact change, so readers can see how the page improved over time.

  1. 12 July 2026 · corrected by Emir Baycan

    Lusardi & Mitchell's JEL review was published in 2014, not 2019.

    Before

    A 2019 study by Lusardi and Mitchell published in the Journal of Economic Literature

    After

    A 2014 study by Lusardi and Mitchell published in the Journal of Economic Literature

    Why: Verified: body already correctly reads 'A 2014 study by Lusardi and Mitchell published in the Journal of Economic Literature'. No citation for this study appears in the article's bibliography section, and no FAQ mention of Lusardi/Mitchell exists, so there was no secondary stale location. Already correct.

    View the full record →

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Emir BaycanExpert Contributor