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प्रश्न
How does understanding opportunity cost improve the quality of economic decision-making?
लघु उत्तरीय
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उत्तर
Understanding opportunity cost improves economic decision-making by helping people compare the benefits of different choices. It reminds us that choosing one option means giving up the next best alternative. By considering what is sacrificed, individuals, businesses and governments can use their limited resources more efficiently, set priorities and make better-informed decisions.
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