Opportunity Cost Current Events 2024. Despite persistent inflation, labor shortages, debt burdens, and geopolitical tensions, in 2024, global economies are improving, creating opportunities for stronger growth, and showing resilience. The opportunity cost definition states that the opportunity cost is the potential benefits that a person loses when he chooses a substitute over another.
Currently, it borders on irrelevant. The white house office of management and budget is quietly proposing to phase out from federal regulatory analysis one of the most important concepts in economics: