Answer :
The economic cost of any resource used to produce a good is the value or worth the resource would have in its best alternative use.
Economics deals with the use of resources, the production of goods and services, the increase in output and wealth over time, and many other complex problems important to society's scarce resources for production, distribution, and consumption. A study of scarcity and its impact. And put together. In economics, he has two branches of microeconomics and macroeconomics.
Economics focuses on the efficiency of production and exchange. Studying economics helps people understand the world around them. This allows us to understand people, businesses, markets, and governments so that we can better respond to the threats and opportunities that arise as things change.
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