Opportunity cost is the loss of the potential gain from other options when one option is chosen. An example of a situation that qualifies as opportunity cost is the scenario in which there is a car and a bike that you want to buy. You decide to buy the car instead of the bike.
Immediately when you make the choice to buy the car you turn away from all the opportunities you could have had if you bought the bike such as saving money on total price, saving money on gas, and getting in better physical shape. If you had chosen the bike in the scenario then there would be opportunity costs to choosing the bike as well.
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