Yes, a lower opportunity cost is generally better for decision-making because it means there are fewer trade-offs or sacrifices involved in choosing one option over another.
A lower opportunity cost is generally better when making decisions because it means sacrificing less to pursue a particular choice.
It has a lower opportunity cost for production of that good.
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Country A has a lower opportunity cost for producing televisions.
Opportunity cost can also deal with time. For example, shopping at Wal-mart versus shopping at sears, Khols, and giant eagle will lower your opportunity cost. At Wal-mart you'll be able to find many of the items you'd typically be looking for when shopping (whether they are better or not is up to you). My point is that from this example, your opportunity cost is lower shopping at W-mart because you are saving time. In my opinion, opportunity cost means "time is money."
A lower opportunity cost is generally better when making decisions because it means sacrificing less to pursue a particular choice.
It has a lower opportunity cost for production of that good.
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
Mostly for economic opportunity (better paying jobs and lower cost of living)
Country A has a lower opportunity cost for producing televisions.
Opportunity cost can also deal with time. For example, shopping at Wal-mart versus shopping at sears, Khols, and giant eagle will lower your opportunity cost. At Wal-mart you'll be able to find many of the items you'd typically be looking for when shopping (whether they are better or not is up to you). My point is that from this example, your opportunity cost is lower shopping at W-mart because you are saving time. In my opinion, opportunity cost means "time is money."
by producing a product with a lower opportunity cost
Existence of lower opportunity cost then competitors
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
No, a higher opportunity cost is not better in decision-making. It means that the value of the next best alternative is greater, which can make the decision more costly or less beneficial.
Opportunity cost refers to the highest-valued option forgone.When one particular choice's cost increases, people have lower incentive to choose that choice as people tend to choose a least-cost option.
Lower future income