What Are Opportunity Costs,and Why Do Economists Spend So Much

question 134

Essay

What are opportunity costs,and why do economists spend so much time talking about them?

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Definitions:

Migration

The movement of people from one place to another, which can be within a country or across international borders, often in search of better living conditions or employment.

Educated People

Individuals who have acquired knowledge, skills, and learning through formal education systems, extending often to higher or tertiary education.

Emigrant Remittances

Funds that migrants send back to their home countries, often to support family members or invest in development projects.

India

A country in South Asia, known for its diverse geography, cultural heritage, and as the world's largest democracy by electorate.