Opportunity cost helps the government to
...Opportunity cost helps the government to
Distribute money to citizens
Support better production
Remove competition
Prepare budget
Correct answer is D
Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action. Opportunity cost helps the government in the preparation of budget, since it assists in the effective allocation of scarce resources to certain sector of the economy. It helps in making certain decision e.g. the priority areas that may require immediate attention.
Study the figure above. At paint H the price elasticity of supply is ...
When all factor inputs are doubled, the production possible curve will ...
If aggregate demand is lower than total output in an economy national income will ...
International trade is different from internal trade because of the ...
Which of the following is a major export crop in Nigeria? ...
The reward for capital is___________ ...
The co-efficient of income elasticity of demand for inferior goods is ...