it's forgone consumption.
That part of after-tax income which is not consumed.
force labor
Sir William Petty
Sir William Petty
requiring a large investment in capital goods and a relatively small labor force a capital-intensive industry or plant
No, retirees are counted by the Bureau of Labor Statistics as "out of the labor force."
The labor force is equal to a financial asset.
false
the profits that come from hiring and using labor and natural resources
land labor capital
When economists defined trade-off, they measured opportunity cost. Trade-off is letting go something of value in exchanging for something else that still has some value.