Intro to economics

James has decided that he wants to buy a new bike that cost $125 and he only has $75. Does he need to save or spend his money?

• Save

• Spend

Imani would like to buy a new outfit for Nadya's party. She has $48 and the new outfit that she wants is $58. Should she save or spend her money?

• save

• spend

Economic choices include deciding how to...

• earn money

• spend money

• save money

• all of the above

Which of these things is a "need" and not a "want"?

• shoes to keep your feet warm & protected

• a really nice house/apartment to live in

• going to an fancy college or prep school

• a smartphone with data/internet access

Economics is the study of economies, or, how people in a society get...

• trade goods

• goods and services

• work and income (money)

• debt

Why do most teenagers spend their money on WANTS?

• Because their parents take care of their needs

• Because they do not earn very much money

• Because they have not been forced to save money for needs

• Because they only buy inexpensive items

My family is going on vacation this summer, so we are sticking to a ______ to save money.

• Income
• Savings
• Budget
• Expenses

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

If an expense can be cut from your budget to save money, it is considered a ______.

• Income
• Want
• Need
• Savings

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

If an expense can not be cut from your budget to save money, it is considered a _____.

• Income
• Want
• Need
• Savings

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Chloe makes and sells earrings as a way to earn extra money. The money she gets is considered _______.

• Needs

• Wants

• Income

• Expenses