Economics

5. the distributing or setting aside of resources for a specific purpose
7. the satisfaction or happiness that comes from consuming a good or service
11. the more of a product you produce, the greater the opportunity cost to produce each unit
13. Cost the next-best alternative you give up when you choose one option over another
14. when more of a resource is used to produce a good, the additional output will eventually decrease
18. Value the worth of a good or service is determined by how much an individual values it
21. something that motivates us to perform a specific action
23. an economic acronym
24. an illustration that shows the maximum output of two goods when resources are used efficiently

1. Incentive a benefit or reward for an action
2. different options people have
3. the monetary worth of a good or service
4. the desire to achieve financial gain
6. Analysis weighing the costs of a decision against the benefits
8. an economic system in which individuals
9. the money a business makes after subtracting all costs from its earnings
10. motivators that do not involve money but still encourage specific behaviors
12. Consequences unplanned results
15. of Inputs the difficulty in using resources across different types of production
16. the basic concept that resources are limited, while human wants and needs are unlimited
17. the branch of economics focused on the economy of a country or region
19. the study of how people, businesses, and governments
20. money paid for borrowing money or earned for lending it
22. Incentive a cost for an action