Examlex
In all societies, the family is the basic unit of economic cooperation.
Marginal Analysis
An approach in economics that involves examining the consequences of adding to or subtracting from the current situation.
Opportunity Cost
Foregoing the opportunity for advantages from different choices by opting for a specific one.
Monetary Cost
Monetary cost refers to the total amount of money that is spent to purchase goods or services.
Opportunity Cost
The benefit that is missed or given up when an investor, individual, or business chooses one alternative over another.
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