opportunity cost

opportunity cost (plural opportunity costs)

1. (economics) The cost of an opportunity forgone (and the loss of the benefits that could be received from that opportunity); the most valuable forgone alternative.
   • 2004, "Jeff Pillet-Shore: Second Year Winds Down," BusinessWeek, 7 Jun. (retrieved 30 Oct., 2008),

     Thanks to business school, I can understand how I've actually paid for this time at home with my family—the opportunity cost of my time, my forgone income, etc.

• accounting cost