Question

A government decides to increase its spending on healthcare. Define opportunity cost and state how it applies to this decision.
(4 marks)

Answer 1

Answer:

$when \: the \: government \: 15 \: billion \:on \: insert \: of \: national \: debt \: the \: opportunity \: cost \: is \: the \: programs \: the \: money \: might \: have \: spent \: on \: like \: education \: or \: healthcare \: .if \: u \: decide \: not \: to \: go \: to \: work \:the \: opportunity \: cost \: is \: the \: lost \: wages \:$