Opportunity cost is the value of what you lose when choosing or deciding between two or more options. Making decision between two or more options requires one to weigh the losses and gains from each option. After making the decision, you feel that the choice you've taken will benefit you more than what you lose by making it. Opportunity cost can also be defined as the loss you take or risk to make a gain, or the loss of one gain for another gain. I believe the issue of opportunity cost plays a major part and role in our day to day lives and activities.