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Why is gridlock, or the lack of any major legislation passing through a government split between the two major political parties, so prevalent in the modern American government?
Opportunity Cost
The benefit that is missed or given up when choosing one alternative over another.
Comparative Advantage
Comparative advantage occurs when a country can produce a good at a lower opportunity cost than another country.
Absolute Quantities
A term used to describe the total amount of a product, asset, or resource, measured independently and without comparison to other entities.
Free Trade
A policy to eliminate discrimination against imports and exports, allowing goods to move freely between countries without tariffs or quotas.
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