Value, Demand, and other stuff
A good or service in terms of dollars is generally referred to as what?
When a consumer sacrifices satisfaction from a later purchase for an immediate purchase, this economic term is used
What is Opportunity Cost
Purchasing an item in the heat of the moment is what economic principle to avoid?
What is Impulse Buying
Agencies like the Food and Drug Administration (FDA) and the Department of Health and Human Services were created to help who?
What is Consumer
Based on this Greek word in the Parable of the Talents, how does the Bible refer to those who wisely manage their finances?
What is Faithful Steward
This law explains how prices drop when product quantity is high
What is The Law of Demand
This economic term defines value in the nature of a product
What is Intrinsic Value
These types of expenses neither rise nor fall with variations in income
What is Fixed Expenses
Shop with Knowledge and Shop with a Plan are good principles of what consumer activity?
What is Purchasing
According to Paul's definition, this condition is what becomes of someone who is satisfied with what they have
What is Contentment
This common-sense science is based on observations and making decisions
What is Economics
What is Util
When shopping for groceries, having one of these can help prevent overspending and buying unnecessary items
What is Grocery List
An inventory of income and planned expenditures are smart strategies of what wise consumer activity?
What is Budgeting
The necessity of making choices, economically or otherwise, is clarified by the Apostle Paul as what two forces waging war with each other?
What is the Spirit and the flesh
What is Unlimited Wants vs. Limited Resources
Economists describe the usefulness of a product in terms of this particular word
What is Utility
Many people live "hand to mouth" because they neglect to practice what sound economic principle with their income?
What is Saving
Large-scale economic issues are generally classified as what type of economic studies
What is Macroeconomics
The Book of Proverbs warns that making hasty financial decisions results in what economic state?
What is Poverty
What biblical principle was illustrated when Hazel used limited resources to multiply and build up her financial capital to buy an air conditioner?
What is Big Outcomes from Small Resources
A good or service a consumer pays to have removed is defined by this negative expression
What is Nuisance Goods
Electricity, heating, water, and garbage pickup may be classified under what budgeting category?
What is Utilities
This old Latin saying warns buyers that avoiding deception is the responsibility of the consumer
What is Caveat Emptor
This economic principle, when applied to the spiritual, describes a Christian who has lost satisfaction in God and godly things
What is Diminishing Marginal Utility