1.
Social science that studies the production, distribution, and consumption of goods and services.
2.
When results of purposeful action are often different from what was intended.
3.
Fundamental, core problem where seemingly unlimited human wants and needs exceed the limited resources available to satisfy them.
4.
any input, natural, human, or man-made, used to produce goods and services to satisfy human wants.
5.
Edge or boundary of a decision, representing the incremental or additional unit of a good, service, or activity.
6.
The effects that can be felt in the future of decisions made today.
7.
Branch of economics that is objective, fact-based economic analysis that describes, explains, and predicts economic phenomena by focusing on "what is" rather than "what ought to be".
8.
Branch of economics that focuses on subjective, value-based judgments regarding what "ought to be" or how the economy should operate.
9.
Financial or non-monetary factors, rewards or penalties, that motivate individuals and businesses to alter their behavior, consumption, or production patterns.
