Define opportunity cost, computer science, Basic Computer Science

 

Define opportunity cost

The opportunity cost of any commodity is defined as the cost of next best alternative, which has been sacrificed for producing the given commodity. The concept of opportunity cost is derived from the diverse or alternate uses of the resources available in the economy. If the resources are used for the production of one alternative then, the benefit of the given resource from other alternative is sacrificed. This sacrifice of withdrawing the given resources in alternative activity, in order to carry out a given activity, is termed as opportunity cost.

related links: Computer Science Assignment Help

 

Posted Date: 3/27/2012 7:05:16 AM | Location : United States







Related Discussions:- Define opportunity cost, computer science, Assignment Help, Ask Question on Define opportunity cost, computer science, Get Answer, Expert's Help, Define opportunity cost, computer science Discussions

Write discussion on Define opportunity cost, computer science
Your posts are moderated
Related Questions
Regardless of of the fact that a thread must execute in process, the process and its associated threads are different notion. Processes are used to group resources together and thr

SWITCHING MECHANISMS: Switching mechanisms are techniques devised to send messages in many dinections at once and to ensure that these messages are received with a minimum of

Technology Partnerships: Such agreements provide the consumer un-limited access to vendor's technology. Such contracts are typically multi-year in nature where the consumer pa

TELECOMMUNICATIONS STANDARDS: They are defined internationally by the CCITT (Consultative Committee for International Telegraphy and Telephones), but to deal with the rapidly

Debugging Once a program has been written, it has to be tested first to ensure that it is free of errors. It is very normal that any program written will contain mistake

Bandwidth: Bandwidth is the second concept important for transmission. This concept can be explained with the help of the traffic network mentioned earlier. If there is a two-

Interpreter: An interpreter is a program that translates each statement in the programming language into machine code and runs it.  Such an arrangement means that to run the

Where can I get free software for drawing K maps

ARINC 429 DATA Bus SPECIFICATIONS: ARINC 429 sets specifications for the transfer of digital data between aircraft electronic system components and is a "One-way" communication

BUSES It can be seen from Figure 4 that there are three buses - the data bus, the address bus, and the control bus. Each bus consists of a group of parallel wires. The da