What is the term for the costs that come from the use of the owner's own resources and therefore are not actually paid out in money?

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1067366

2026-03-13 16:50

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The term for these costs is "opportunity costs." Opportunity costs represent the potential benefits an individual or business misses out on when choosing one alternative over another. They reflect the value of the next best alternative that is forgone, rather than direct monetary expenses.

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