Making Choices: Budgets

Which of the following is an example of a need for most people?

• A place to live
• A nice car
• Designer jeans

It's important to spend money on things you need before spending money on things you want.

• True
• False

Which of the following is an example of a want for most people?

• A warm jacket
• Transportation
• Ice cream

Money that your earn is called a(n)____.

• expense

• income

• debit

• credit

Tags

CCSS.RF.5.3A

CCSS.RF.4.3A

CCSS.RF.3.3D

CCSS.RF.3.3B

CCSS.RF.3.3C

Money that you spend is called a(n)___.

• expense

• income

• debt

• profit

A plan for spending and saving. You must consider both income and expenses.

• budget

• banking

• hoarding

• investing

What is it called when people buy one thing rather than another?

• Spending

• Economic Choice

• Opportunity Cost

• Saving

Things that people make or grow and then sell are called

• earnings

• services

• goods

• choices

The amount of goods and services that people want and can pay for are called

• demand

• cost

• supply

• goods

If the demand for a product is low, the price of the product will go _______