theory of the second best
Definition
Economics concept that if two or more requirements for achieving a most desirable economic situation cannot be satisfied, a concerted attempt to satisfy the requirements that can be met is not necessarily the second best option and may not be beneficial.
Popular 'Decision Making, Problem Solving, & Strategy' Terms
theory of the second best in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/theory-of-the-second-best.html
