1John Maynard Keynes (1882-1946)
2Friedrich August von Hayek (1899-1992)
3Milton Friedman (1912-2006)
4Lawrence Robert Klein (1920-2013)
5Robert Lucas Jr. (1937-Present)
6Elinor Ostrom (1933-2012)
7Leon Walras (1834-1910)
Answer:
Opportunity cost is the cost of a foregone alternative. If you chose one alternative over another, then the cost of choosing that alternative is an opportunity cost. Opportunity cost is the benefits you lose by choosing one alternative over another one.
Hope it helps.
Although Christianity is the most widely practiced religion in Fiji, there are many large and beautiful Hindu temples.
The tendency to overestimate the contribution of internal factors to the success of another is part of Self-serving bias perceptual bias.
This is further explained below.
<h3>What is
Self-serving bias?</h3>
Generally, A self-serving bias is the frequent behavior of a person to take credit for happy occurrences or results but to blame other reasons for bad events. This is in contrast to the opposite bias, which is the habit of blaming outside forces for negative events.
In conclusion, Self-serving bias is a kind of perceptual bias that refers to the propensity to exaggerate the influence of internal variables on the success of another individual or group.
Read more about Self-serving bias
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