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How is the concept opportunity cost relevant to the economy of West African countries?
How is the concept of opportunity cost relevant to the economy of west African countries
How is the concept of opportunity relevant to the economy of west African countries?
How is the concept of opportunity cost relevant to the economy of west African countries
What best describes opportunity cost?
the vaue of what a person or economy gives up to get something else
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
How is the concept opportunity cost relevant to the economy of West African countries?
How is the concept of opportunity cost relevant to the economy of west African countries
How is the concept of opportunity relevant to the economy of west African countries?
How is the concept of opportunity cost relevant to the economy of west African countries
How is the concept of opportunity cost relevant to the economy of west African countries?
How is the concept of opportunity cost relevant to the economy of west African countries
Which explanes the term opportunity cost?
the value of what a person or economy gives up to get something else
What best describes opportunity cost?
the vaue of what a person or economy gives up to get something else
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
What is the opportunity cost to a fully employed economy of increasing capital investment?
A fall in consumption
Which of these explains the term opportunity cost?
The value of the next best alternative given when a chose is made.
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Does Thailand have a command economy?
No Thailand does not have a command economy. In a command economy, the government controls what goods are produced, how much they are produced, and what they cost. This type of economy often is found in a country that is run by a dictatorship. Thailand is a mixed economy. The government makes some decisions about and the government makes others.
What does law of increasing opportunity cost express?
The law of increasing opportunity costs states that as production of a product increases, the cost to produce an additional unit of that product increases as well. This law is responsible for the bowed shape of the production possibilities curve. Because not all of our economy's resources are equally well-suited to the production of a single good, the increasing opportunity cost is present.
