study of how scarce resources are allocated


something you give up when you make a decision


evaluating the costs and benefits of a decision


man-made resources such as tools, machinery, etc.


person who takes a risk to bring together other productive resources and start a business


focusing on an area of expertise or one aspect of production


workers with all their skills and abilities


the next best alternative (the first thing you didn't choose)


relationship of inputs to outputs


natural resources

1.
economics

2.
trade off

3.
opportunity cost

4.
land

5.
labor

6.
capital

7.
entrepreneur

8.
productivity

9.
cost-benefit analysis

10.
specialization

ill give you brainies