Across
- 5. A theoretical unit of satisfaction that a person gains from consuming an item
- 6. The branch of economics that deals with value judgements about economic subjects rather than facts and observations.
- 7. The study of the way society makes decisions about the use of scarce resources.
- 8. The favouring of one available option over another in making a decision or choice.
- 9. The result, effect, or outcome of an action taken or the refusal to take an action.
Down
- 1. The branch of economics that deals with facts and direct observation of the world.
- 2. A particular use of resources that achieves a desired end, such as consumption.
- 3. A person with a vested or personal interest in an economic decision.
- 4. To use limited resources efficiently in production
- 5. The usefulness, satisfaction, or benefit derived from each available option to help make a rational choice among them.