Ch 1 Lesson 1 Vocab: Create a Quiz

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Across
  1. 1. An analysis that compares the total expected costs against the expected benefits of a decision (two words, hyphenated in the answer key)
  2. 4. A branch of economics that involves value judgments and statements about "what ought to be"
  3. 5. A branch of economics that focuses on objective and fact-based analysis of "what is"
  4. 7. A compromise that involves giving up one thing in return for getting something else
  5. 8. The system of production and consumption in a specific region or country
Down
  1. 2. The condition of having unlimited human wants in a world of limited resources
  2. 3. The social science concerned with the production, consumption, and transfer of wealth
  3. 6. An external influence, such as an expected reward or penalty, that incites action