Unit 7: Economics-Businesses & Individuals

Front

Which economic term describes going to the movies in this scenario?

Back

Opportunity cost

Front

Limited resources make it impossible for citizens to have everything they want and need. What does this basic economic fact force citizens to do?

Back

Make choices among the goods and services currently on the market

Front

Aimee’s friends are taking her out to breakfast for her birthday. They gave her four options, which she ranked from her favorite to least favorite. What is Aimee’s opportunity cost for choosing to go to Waffle Mansion?

Back

Breakfast at International House of Omelets

Front

An opportunity cost is—

Back

The second-best alternative when an economic choice is made

Front

Cecelia is a senior in high school. She is making choices about whether she will attend a 2-year college or go immediately into the workforce when she graduates. Which question should Cecelia ask herself when making this choice?

Back

How much will a degree increase my paycheck?

Front

Which is the best example of the store of value advantage of money? Options: Gary obtains a loan to buy a sofa. Lynelle always uses cash to buy her clothes. James knows the price of a pair of shoes from the price tag. Roberto saves ten percent of his income in a retirement account.

Back

Roberto saves ten percent of his income in a retirement account.

Front

What do the two items pictured above have in common?

Back

They allow people to access money that has been deposited in a bank account.

Front

Based on the graph, when opening a new store, businesses should -

Back

invest in card-reader technology.

Front

Which of the following best completes the diagram?
Options:
Checks and debit cards,
Banks and credit unions,
Insurance Agencies,
Households and businesses

Back

Banks and credit unions

Front

When a person makes a deposit, they are—

Back

Placing money into their account at a bank or credit union