How Opportunity Cost Can Affect Your Home Business

In order to properly plan and weigh your options, you should always consider opportunity cost as you make business decisions. So what exactly is opportunity cost? It’s an economics concept that says there is a cost to choosing one option over another. For example, imagine that your home office needed a new computer, printer, desk and scanner, yet you only had the funds for one of these items. Ultimately, you decide that the scanner is most important to your office, followed by the computer, desk and then the printer. After buying the scanner, the opportunity cost would be all the … Read more at Free Business Cards