Money can be anything that is widely accepted in exchange for goods and services
100
What do people do to earn money
What is work
100
When people want to buy something they have to make ____________ .
What is choices
100
A lack of goods or services
What is scarcity
200
A plan for using money
What is Budget
200
what kind of money do we use in the United States
What is dollars and cents
200
Why do people make budgets
People make budget to decide how to use their money
200
What do people have to think about before making a choice about what to buy?
What is the price of each item, the opportunity cost, how much money you have saved, where to buy the item
200
When their is a scarcity of an item what can you do?
You can buy a different item or look for the item at another store.
300
The money the bank pays you for keeping your money there
What is interest
300
Do all countries use the same type of money?
No
300
What are two ways you can earn a higher income
What is going to college and having a special skill
300
You have $12 dollars and want to buy a Book that cost $7 and a movie that cost $7. You choose to buy the movie. What is the opportunity cost?
What is the book
300
What choice did Marisa make in the story in the textbook.
SHe chose to go to the store with the lower prices. She chose to buy a tan jacket that fit instead of a maroon jacket that was too large.
400
What is Scarcity
What is A lack of goods or services
400
What is bartering? and give an example
The direct trading of goods and services
400
What 3 things are on a budget
What is what you earn, what you spend and what you save
400
What is one way stores compete for buyers?
Stores sometimes lower their prices
400
WHy does scarcity cause some buyers to make a tough choice?
Some buyers must make choices if specific goods are not available for purchase.
500
The thing that people must give up in order to do what they most want
What is opportunity cost
500
Is is usually easier to use money or to barter?
What is Using money
500
How do banks help people?
They help people save, borrow, and earn interest on their money
500
Why might a store lower its prices?
A store might lower its prices to get more people to buy their goods.
500
You go to the book store to buy Diary of a Wimpy Kid. However, when you get to the store you realize they are all sold out. Why is there a problem of scarcity?
There is a problem of scarcity because the book I wanted is not available to buy.