Opportunity Costs
Taxes
Debit Vs. Credit
RaNdOm
Economics Mix
100
What is gained by making a decision?
benefit
100
What are 2 things that taxes help pay for?
schools, parks, roads
100
A ________ card takes money directly out of your bank account?
Debit Card
100
When people trade either goods or services with each other is called _________.
Bartering
100
In a Lemonade Stand, the lemons and water are an example of what kind of resource?
natural resource
human resource
capital resource
Natural Resource
200
What is given up after the decision has been made?
opportunity cost
200
When people work and earn money, they pay the federal government part of what they earn. What kind of tax is that called?
income tax
200
A ________ card is an account that you have to pay back.
Credit Card 
200
What is an example of a NEED?
clothing
shelter
food
water
200
If Logan works at the lemonade stand. What kind of resource is he?
capital resource
natural resource
human resource
Human Resource
300
Jason wants a new video game. The game is not on sale because it is so popular. Is there a supply of the video game or is it in demand?
Demand
300
When you buy things like toys, clothes, or food, you pay a little extra money called.....
Sales Tax
300
Which type of card could get you in danger of overspending?
300
A ________ is a plan for how a person will spend money.
budget
300
The lemonade stand itself is an example of what kind of resource?
human resource
capital resource
natural resource
Capital Resource
400
Jane got money for her birthday. She wants a new bike. Her friends are going to the mall to go shopping and see a movie. If Jane goes to the mall and the movies, she will not be able to save for her new bike. This is an example of opportunity cost. True or False
True
400
People who own homes or land pay.....
Property Tax
400
What is one benefit of having a debit card?
1. You can buy things without carrying around cash.
2. You are using your own money from your own account.
3. You can only spend what you have in the bank.
4. You don't have to pay interest on it.
400
What is the place that holds your money safely in an account called?
Bank
400
What is the difference between goods and services?
Goods are items that people make or grow.
Services are jobs people do for other people.
500
What is scarcity?
A lack of goods or services.
500
Taxes are important because they help pay for movie theaters and shopping malls. True or False
False
Taxes help pay for services in our cities, state, and country like police stations, schools, libraries, etc.
500
What is currency?
The form of money people use in a country.
500
A person that is a producer and starts a business is called an ___________.
Entrepreneur
500
Jessica wants to buy a few goods at the store. Jamal works at the cash register. Which one is the producer and which one is the consumer?
Jessica---consumer
Jamal--producer