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.
theory of the second best is in the Decision Making, Problem Solving, & Strategy and Economics, Politics, & Society subjects.
theory of the second best appears in the definition of the following term: second best
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