Social Studies-Market Systems Flashcard

Front

What is a budget?

Back

A budget is a financial plan.

Front

Why is a budget helpful?

Back

A budget is helpful for planning and tracking finances, setting goals, prioritizing spending, and avoiding overspending.

Front

What is a consumer?

Back

A person who purchases goods or services.

Front

What is a good?

Back

A good is an object you can touch and take home.

Front

What is a service?

Back

A service is something you can pay a person or a business to do.

Front

Is a video game a good?

Back

Yes

Front

Is getting your haircut a service?

Back

Yes

Front

Is a pair of shoes a good?

Back

Yes

Front

Is a person delivering pizza a service?

Back

Yes

Front

Why is it important to save your money?

Back

It is important to save money to be able to buy things you want