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.

Use this term in a sentence

Related Videos




http://www.businessdictionary.com/definition/theory-of-the-second-best.html

Have a question about this term? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z