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