In the field of economics, "opportunity cost" refers to ___. A. The cost of the next best alternative B. The cost of the best alternative C. The cost of the worst alternative D. The cost of the same alternative 相关知识点: 试题来源: 解析 A 反馈 收藏 ...
[translate] ait was the first time that clause 它第一次是那个条目 [translate] athe sixth year kick off with a bang for him 第六年开始以轰隆为他 [translate] aexplain why the relevant cost concept in economics is opportunity cost 解释为什么相关的费用概念在经济方面是机会成本 [translate] ...
A.It is about finding out the opportunity cost. B.Weigh the losses and gains, and make your decision. C.Opportunity cost matters not only in economics but also in real life. D.This is especially true when the opportunity cost is of non-financial benefit. E.The key principle underlying th...
What is the relationship between ends, means, choice, and opportunity cost in economics?Microeconomics.Microeconomics is the study of economics which deals with the activities related to individual units that is; an individual consumer decision to maximize the satisfaction, the indi...
Why is fiat money valuable? What are the key differences between use-value, exchange-value, and surplus-value? How is wealth created in economics? What is the importance of economic anthropology? Explain how to calculate opportunity cost in macroeconomics. ...
aIn economics, comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another. Even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both cou...
According to the orthodox view, the cost of any choice is the most favorable alternative which the individual gives up in making the choice: it is the opportunity just displaced and may be referred to either as the opportunity cost or the displacement cost.1...
Why Is the Production Possibility Frontier Called the Opportunity Cost Curve? The PPF identifies the options when making a decision. When you decide on one action, you lose the opportunity that the other action provides. Thus, there is an opportunity cost; the PPF curve plots this. The Bottom...
PPF also plays a crucial role in economics. For example, it can demonstrate that a nation’seconomyhas reached the highest level of efficiency possible. Key Takeaways When producing goods, opportunity cost is what is given up when you take resources from one product to produce another. The ma...
Landholders are generally assumed to be willing to participate in payments for ecosystem service (PES) schemes if the offered payment exceeds the opportunity cost of participation. The calculation of opportunity costs is often based on historic financial data such as net returns of the formerly pract...