ABSTRACT
Economics is the study of managing limited resources. Scarcity of resources creates the need for trade-oœs, and opportunity cost needs to be considered in order to make the right decision in a trade-oœ. Law enforcement and criminal justice administration activities also require the consumption of scarce resources such as funds for operations, police o¤cers, facilities for corrections, weapons and equipment, and so on. še budget has to be set every Šscal year, and all operations should be based on budget limit considerations.
