Papaver somniferum, the opium poppy, is the species of plant from which opium and poppy seeds are derived.Opium is the source of many drugs, including morphine (and its derivative heroin), thebaine, codeine, papaverine, and noscapine.t is also valuable for ornamental purposes, and has been known as the common garden poppy, referencing all the group of poppy plants. Poppy seeds of Papaver somniferum are an important food item and the source of poppyseed oil, a healthy edible oil that has many uses.
Opportunity Loss. Definition. Health Economics. The most highly valued use of resources (cf. the most highly valued alternative use). It is used especially in the context of decision-making under uncertainty, when the value attributed to obtaining additional information depends on the opportunities thereby created. It is the cost of not selecting the most highly valued use.
Opportunity cost is the value of something when a particular course of action is chosen. Simply put, opportunity cost is what you must forgo in order to get something. The benefit or value that was given up can refer to decisions in your personal life, in a company, in the economy, in the environment, or on a governmental level.