Opportunity cost

Definition
‘The benefit foregone when a scarce resource is used for one purpose instead of the best alternative use’ (EFA Global Monitoring Report, 2008: 393).

References
Education for All Global Monitoring Report. 2008. Education for All by 2015: will we make it? Paris: UNESCO.  Retrieved from: https://unesdoc.unesco.org/ark:/48223/pf0000154743

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