Across
- 4. The favouring of one available option over another in making a decision or choice.
- 6. A particular use of resources that achieves a desired end.
- 7. The branch of economics that deals with value judgements about economic subjects rather than facts and observations.
- 12. A self-sustaining system in which many independent transactions in a society create distinct flows of money and products or services.
- 14. A method of study used to make discoveries in natural science and social sciences (such as economics) that has four steps: observation, data collection, explanation, and verification
Down
- 1. The use of a bare minimum of resources to achieve a desired end, such as consumption.
- 2. A person with a vested or personal interest (or stake) in an economic decision.
- 3. The result, effect, or outcome of an action taken or the refusal to take an action.
- 5. A theoretical unit of satisfaction that a person gains from consuming an item.
- 8. The branch of economics that deals with facts and direct observation of the world.
- 9. The study of the way society makes decisions about the use of scarce resources.
- 10. The usefulness, satisfaction, or benefit derived from each available option to help make a rational choice among them.
- 11. Sciences, such as economics, history, and sociology, that study some aspect of human behaviour.
- 13. To use limited resources efficiently in production.