What Is an Opportunity Cost and Why Is It a Relevant

question 88

Essay

What is an opportunity cost and why is it a relevant cost?

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Definitions:

Social Needs

The human requirements for companionship, belonging, inclusion, and being part of a community.

Homeostasis

The self-regulating process by which biological systems maintain stability while adjusting to conditions that are optimal for survival.

Reproductive Success

The passing of genes onto the next generation in a way that they too can pass on those genes.

Goal-directed Behaviour

Actions taken towards achieving specific outcomes or objectives.