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