Opportunity cost is the cost of the next-best option. It is something important to know.
Explanation:
In microeconomic theory, opportunity cost is the loss or the benefit that could have been enjoyed if the best alternative choice was chosen. As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure the efficient use of scarce resources.
England proved to be a strong super power by conquering lands and by acquiring natural resources. England also imperialized many countries benefitting from them through mercantilism. England increased in navy and their economy prospered.
plastic is the main constituent in the garbage patch found in North Pacific Ocean. It was estimated to be approximately 80 thousand tons or about 1.8 trillion pieces of plastic in the patch. A total of 1.8 trillion plastic pieces were estimated to be floating in the patch.
