Across
- 3. The exchange of one benefit or advantage for another that is thought to be better.
- 4. The branch of economics that applies value judgments to data in order to recommend actions or policies.
- 6. Something that motivates a person to take a particular course of action.
- 8. The branch of economics that uses objective analysis to find out how the economy actually works
Down
- 1. A way to compare the cost of an action with the benefits of that action;if benefits exceed cost, then the action is worth taking.
- 2. The study of how people choose to use their limited resources to satisfy their unlimited wants.
- 5. Condition that results because people have limited resources but unlimited wants.
- 7. A system used to manage limited resources for the production, distribution,and consumption of goods and services.