Card Set Information
Three fundamental cost
the best alternative that you fargo, when you make a choice or decision
the process of analyzing and additonal cost or benefit from an upcoming decision.
Cost that cannot be avoided beacause it already been incurred
No free lunch. Market where the is limited. Rarely found.
branch that is specifically for individual industries. EX buisness firm, household.
Branch that is that examine economic as a whole. EX income, employmant, output, on natinal scale.