Vocabulary
short supply
What is scarcity?
something that taxes pay for
What is a road, bridge, school, hospital, school, park?
a need
What is food, clothes, home, school supplies, work supplies?
planning how to spend and save your money.
What is a budget?
a person's desire (want) for a product or service
What is demand?
you pay the taxes to...
What is the IRS or Internal Revenue Service?
a producer
someone who makes or sells goods or provides a service
reason why people budget
What is to buy something special, to save...?
depending on each other for goods and services
What is interdependence?
a type of tax that is taken out of your paycheck.
What is income tax?
a person that buys goods or services
What is a consumer?
What does a budget track?
What are expenses, savings, income?
a person that works with money
What is an economist?
taxes you pay when you go shopping at the store or supermarket
What are sales tax?
a person that provides a service
What is a police officer, firefighter, teacher, hair stylist, cab driver, chef...?
An expense that you should take out of your budget first?
What is food? School supply?
the careful use of money
What is economy or economics?
type of tax you pay when you purchase a car or a home
What are property taxes?
a way you can earn an income
What is working...doing chores....?
If you earn $10.00 every week for allowance, and you decide to save your money until you have enough to buy a $45.00 video game, how many weeks will it take?
What are 5 weeks?