Answer to Question #267427 in Economics for Tenn

Question

Consider a government spending program you have read about in the news or research one online. In a well-composed post, explain the opportunity cost of that government decision. What was the next best alternative in your opinion? Describe how “scarcity” factors into the decision process. (Remember that all things are scarce.)

Answer 1

Opportunity cost is the value of something when a particular course of action is chosen. As the government budget is limited, then if the government spends more on health care, then it may spend less on education or some infrastructure program.