The opportunity cost of all economic resources forgone for a particular production process can be identified as production cost.

• In economics, opportunity cost is considered as production cost which it includes both
  direct and indirect costs.
• In accounting, only direct costs will be considered.
• Indirect cost/ assumed cost means, earnings of factors forgone to employ the
  production resources of a production firm for their production process.
• The opportunity cost of all economic resources forgone for a particular production
  process can be identified as production cost.
• In economics, opportunity cost is considered as production cost which it includes both
  direct and indirect costs.
• In accounting, only direct costs will be considered.
• Indirect cost/ assumed cost means, earnings of factors forgone to empty the
  production resources of a production firm for their production process.
• The minimum benefit expected by an entrepreneur to remain in the production process is
  considered as normal profits. Also it is considered as the opportunity cost of the
  production factor of the entrepreneur.
• Expenditure borne by a production personally for the inputs of the production process is
  identified as private costs and expenditure borne by independent external parties as a
  result of the production process is identified as external costs.