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A trade-off is made between what you really want and the best alternative Wants Opportunity Costs Value Goals

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A trade-off is made between what you really want and the best alternative
Wants
Opportunity Costs
Value
Goals

A trade-off is made between what you really want and the best alternative Wants Opportunity Costs Value Goals

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OscarElite · Tutor for 8 years

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Opportunity Costs

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In economics, opportunity cost refers to the value of the best alternative that must be given up to engage in an activity. It embodies the trade-off made between what is sacrificed versus what is gained. Every decision incurs an opportunity cost since choosing one option means forgoing others.
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