Opportunity cost helps the government to:
Question 1 Report
Opportunity cost helps the government to:
Answer Details
Opportunity cost refers to a benefit that a person could have received,
but gave up, to take another course of action. Opportunity cost helps
the government in the preparation of budget, since it assists in the
effective allocation of scarce resources to certain sector of the
economy. It helps in making certain decision e.g. the priority areas
that may require immediate attention.
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