What Is Communism? 1

What Is Communism?

Communism, a political and economic doctrine, aims to replace private property and profit – based economies – with public ownership of means of production, public education, and public health and welfare. Marx, like most 19th-century … Read more

opportunity cost

What is Opportunity Cost?

Opportunity cost is a term used by economists to describe how much an item contributes or costs to your life when you don’t have it, without considering all other options. It is generally the next … Read more