Define Opportunity Cost and Give an Example

question 14

Essay

Define opportunity cost and give an example.

---

Definitions:

Tachometer

An instrument used to measure the rotation speed of a shaft or disk, displayed in revolutions per minute (RPM).

Speed Measurement

The process of determining the rate of movement of an object, typically measured in units like meters per second or miles per hour.

Load Cell

A device used to measure weight or force by converting a mechanical load into an electrical output signal.

Capacitive Proximity Sensor

A type of sensor that can detect the presence or absence of objects through changes in the electric field, without requiring physical contact.