Opportunity cost is the value of the next best alternative forgone as a result of making a decision.
The presidency of George Washington began on April 30, 1789, when Washington was inaugurated as the first President of the United States, and ended on March 4, 1797. Washington took office after the 1788–89 presidential election, the nation's first quadrennial presidential election, in which he was elected unanimously. Washington was re-elected unanimously in the 1792 presidential election, and chose to retire after two terms. He was succeeded by his vice president, John Adams of the Federalist Party.
Washington had established his preeminence among the new nation's Founding Fathers through his service as Commander-in-Chief of the Continental Army during the American Revolutionary War and as President of the 1787 Constitutional Convention. Once the Constitution was approved, it was widely expected that Washington would become the first President of the United States, despite his own desire to retire from public life. In his first inaugural address, Washington expressed both his reluctance to accept the presidency and his inexperience with the duties of civil administration, but he proved an able leader.
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Crude oil or related petroleum products are the number one export for several countries globally. With shipments estimated at $325 billion or 41.3 percent of global crude oil exports, Middle Eastern countries accounted for a large portion of global oil export revenues.
An election of judges as a way to check judicial power.
He believes that the Judicial branch has to stay clean so the government officials do not become immune to the law. This means the judges have to be carefully elected.
