Business & Accounting Terms : How to Define Opportunity Costs

Opportunity costs are defined as the difference between the money a person could have earned and the money that was actually earned. Find out how opportunity costs are created when a person chooses to spend time doing something less profitable with information from a certified public accountant in this free video on business and accounting terms. Expert: Henry Gutter Bio: Henry Gutter is a certified public accountant located in El Segundo, Calif. Filmmaker: Mark Labbato