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Economics/SS/Gr. 6

Economics

QuestionAnswer
PACED is a term used to help us remember the 5 steps of what process? decision-making
Choices or options that one has when making a decision are which of the following? alternatives
Reasons we use to help us when making decisions. criteria
What you give up when you make a decision. opportunity costs
What is important to us and may be different for each individual and affect decision -making? values
Helps in life, such as time, money, or technology, but it can be limited. resources
The actions of giving up some, but not all, to attain some, but maybe not all. tradeoff
Chances that you take when making a decision are what? output
To take the amount of output divided by your input (output per unit of input) will help calculate what? productivity
Created by: blarson
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