Cryptocurrency Q&A
What is the difference between opportunity cost and replacement cost?
What is the difference between opportunity cost and replacement cost?
Martino
Tue Jan 21 2025
|
7
answers
994
I am trying to understand the distinction between two economic concepts: opportunity cost and replacement cost. Could someone explain the differences between them?
7 answers
CryptoKnight
Thu Jan 23 2025
The focus is on what has been given up, rather than what has been gained.
Was this helpful?
222
40
SolitudeSeeker
Thu Jan 23 2025
On the other hand, the replacement cost approach operates differently.
Was this helpful?
100
23
KpopStarlight
Thu Jan 23 2025
It calculates the cost of finding a substitute for the services that an individual previously provided.
Was this helpful?
88
41
Andrea
Thu Jan 23 2025
The opportunity cost approach assesses the value of both the time and other resources an individual has forfeited.
Was this helpful?
93
88
CryptoLodestar
Thu Jan 23 2025
This method looks at the expenses involved in replacing the lost services.
Was this helpful?
241
67
Load 5 more related questions
