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Economic Research Council

Britain's Oldest Economic Think Tank

opportunity cost

Founded as Britain's oldest economics-focused think tank, the Economic Research Council is committed to enhancing economic understanding and fostering inclusive debate. Through innovative events, research, and digital outreach, we strive to make economic knowledge accessible to everyone, supporting informed dialogue and pluralistic ideas. Join us in shaping a society enriched by diverse economic insights and active civic participation.

Opportunity Cost: Rent or Buy

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The recent divergence between modest house price growth and surging rents poses a complex decision for many: is it better to continue renting or to buy a home? Understanding the underlying economic concept of Opportunity Cost can help clarify this choice. Opportunity Cost is the value of the next best alternative forgone when making a decision. In […]