When there are more than one choices or alternatives and we choose one alternative among them, then the loss of the potential gain associated with the other alternatives when one choice is taken is known as opportunity cost.
A production possibility frontier is a curve or graph that shows the various amounts of any two products which can be produced when both the products depends on same finite source.
In the context, a society produces two products namely, beer and donuts. As the production possibility frontier moves up, producing more donuts by the society increases the opportunity cost for producing beer as the society produces both donuts as well as beer.
Males and females can have different points of view depending on their gender as well as life experiences and maybe even their hormones such as having different levels of testosterone and estrogen
To reduce the debt, the country could raise taxes and/or cut spending. These are two of the tools of contractionary fiscal policy, and either tactic could slow economic growth. Spending cuts come with pitfalls thoughExplanation:
Human capital development refers to the way a company or firm trains its staff so as to improve professionalism, work experience and yield improved income into the firm.
