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oppertunity cost
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When one decision is made the next best alternative decision not selected is called?
Opportunity Cost
When one decision is made the next best alternative not selected is called?
Opportunity Cost
What do economists call the next best alternative?
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.
What do economits call the next best alternative that to be given up for the one chosen?
opportunity cost
What do economists the next best alternative that had to be given up for the one chosen?
opportunity cost
What The best alternative given up by a particular decision.?
Opportunity cost is the phrase used to describe the best alternative given up by a particular decision. The term is often associated with Economics.
What is The best alternative given up by a particular decision?
Opportunity cost is the phrase used to describe the best alternative given up by a particular decision. The term is often associated with economics.
The best alternative given up when making a certain decision?
Financial planning - A strategy to save for financial goals. Opportunity cost - The best alternative given up when making a certain decision. Risk aversion - Reluctance for taking chances. Utility - Personal satisfaction gained from consumption.
When one decision is made the next best alternative decision not selected is called?
Opportunity Cost
When one decision is made the next best alternative not selected is called?
Opportunity Cost
What does the phrase best bet mean?
"Best bet" is an idiomatic expression that refers to the most advantageous or favorable option among a set of choices. It suggests that selecting that particular option is the wisest decision given the circumstances.
What do economists call the next best alternative?
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.
What do economists call the next best alternative that had to be given up for the chosen one?
opportunity cost
What do economits call the next best alternative that to be given up for the one chosen?
opportunity cost
The value of the next best alternative given up to obtain an item is called?
Oppurtnity cost
The next best choice that is given up when a decision is made is called?
opportunity cost
What do economists the next best alternative that had to be given up for the one chosen?
opportunity cost
