Paying off Debt Versus Spending on Welfare by the Government
A country’s government is preparing its budget. It has some surplus which can be used for paying off its debtor or it can be used for introducing some welfare schemes for its citizens such as subsidies.
If it pays off its debt instead of a welfare scheme, it would be classified as an opportunity cost for its citizens.
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Opportunity cost examples that provide an outline of the most common Opportunity Cost.
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