Opportunity Cost
it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)
Because opportunity cost doesn't show up as an accounting expense.
opportunity cost
Economists call opportunity cost the next best alternative that has been given up. This is the cost of forgoing something and picking an alternative like using college fees to start a business.
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)
Because opportunity cost doesn't show up as an accounting expense.
opportunity cost
Economists call opportunity cost the next best alternative that has been given up. This is the cost of forgoing something and picking an alternative like using college fees to start a business.
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
Cost benefit analyses
Cost benefit analyses
opportunity cost
Cost benefit analyses
gross product
the answer is obviously cost benifit analysis
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.