Economic stimulus policies have long been used as a tool to revive or boost economic activity during...
Opportunity Cost
Opportunity Cost refers to the value of the next best alternative that is foregone when making a decision. It highlights the trade-offs involved in choosing one option over another, emphasizing that resources (such as time, money, or effort) are limited. Understanding opportunity cost is crucial for effective decision-making, as it helps individuals and businesses evaluate the potential benefits they miss out on by not choosing the alternative option.
