Examlex
Which of the following is correct with respect to our courts?
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
Benefit
An advantage or profit gained from something.
Foregone Benefit
The lost potential gain from other alternatives when one alternative is chosen.
Alternative Cost
Also known as opportunity cost, it represents the benefit that is missed or given up when choosing one alternative over another.
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