Across
- 3. To use resources sparingly or efficiently in order to save money or reduce waste.
- 4. A measure of the satisfaction or benefit that a consumer derives from consuming goods and services.
- 6. Cost: The additional cost incurred by producing one more unit of a good or service.
- 8. The act of giving up one benefit in order to gain another, often involving a compromise between two competing options.
- 9. Analysis: A systematic approach to comparing the strengths and weaknesses of alternatives; it involves weighing the total expected costs against the total expected benefits.
Down
- 1. Cost: The value of the next best alternative that is forgone when a choice is made; it represents the benefits you could have received by choosing differently.
- 2. Words Defined
- 5. Benefit: The additional benefit gained from consuming or producing one more unit of a good or service.
- 7. Factors or rewards that motivate individuals or businesses to take certain actions or make decisions.