Business terms and jargon explained. Your business dictionary
What is Opportunity Costs
Is the loss incurred by taking one course of action rather than another. E.g., you set up a business and expect to make 100K where you will give up a job that pays 50K. The 50k that you give up is a cost. (only in economics costing or management costing not in accounting).
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.