Join the growing community of curious minds on IDNLearn.com. Our platform offers reliable and comprehensive answers to help you make informed decisions quickly and easily.

concept of opportunity cost to economy



Sagot :

it’s the value of the next best alternative when a decision is made, so not the first desired choice, but the second one

Answer:

In microeconomics theory, the opportunity cost of particular activity option is the less of value or benefit that would be incurred by engaging in that activity