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second best - Meaning in Tamil

Tamil: ஸேகந்ட பேஸ்ட

second best - Meaning in Tamil

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Definitions and Meaning of second best in English

second best noun

  1. the competitor who finishes second

    Synonyms

    runner-up

Synonyms of second best

Description

In welfare economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied. The economists Richard Lipsey and Kelvin Lancaster showed in 1956, that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal. Politically, the theory implies that if it is infeasible to remove a particular market distortion, introducing one or more additional market distortions in an interdependent market may partially counteract the first, and lead to a more efficient outcome.

Also see "Theory of the second best" on Wikipedia

What is second best meaning in Tamil?

The word or phrase second best refers to the competitor who finishes second. See second best meaning in Tamil, second best definition, translation and meaning of second best in Tamil. Find second best similar words, second best synonyms. Learn and practice the pronunciation of second best. Find the answer of what is the meaning of second best in Tamil.

Other languages: second best meaning in Hindi

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What is second best meaning in Tamil, second best translation in Tamil, second best definition, pronunciations and examples of second best in Tamil.

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