Question

economic vocabulary
drag and drop the terms in the right column to match with correct definitions in the left column.
setting aside resources for a specific purpose.
the creation of goods and services to satisfy wants and needs.
producing something with as little waste as possible.
the benefits of the best alternative option that are given up by a particular decision.
efficiency production allocation opportunity cost

Explanation:

1. Allocation means setting aside resources for a specific purpose.
2. Production is the creation of goods and services to satisfy wants and needs.
3. Efficiency is about producing something with as little waste as possible.
4. Opportunity cost is the benefits of the best - alternative option that are given up by a particular decision.

Answer:

1. Setting aside resources for a specific purpose - allocation
2. The creation of goods and services to satisfy wants and needs - production
3. Producing something with as little waste as possible - efficiency
4. The benefits of the best alternative option that are given up by a particular decision - opportunity cost