Chapter 18 vocabulary

Something advantageous or positive, especially as the result of a decision

• benefit

• choice

• cost

• limit

One of multiple options

• benefit

• choice

• cost

• limit

Something that is lost or given up in in the process of getting something else

• benefit

• choice

• cost

• limit

To restrict the size or amount of something

• benefit

• choice

• cost

• limit

The value of what you have to give up in order to choose something else

• benefit

• opportunity cost

• limit

• scarcity

The lack of resources to produce all the goods and services that are needed or wanted

• benefit

• opportunity cost

• limit

• scarcity