Friedrich von Wieser
Friedrich Freiherr von Wieser ([ˈviːzɐ]; July 10, 1851 – July 22, 1926) was an early (so-called "first generation") economist of the Austrian School of economics. Born in Vienna, the son of Privy Coun...
Opportunity cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternative...