Econ

Why is it best to use a debit card than a credit card?

• It is not better. Trick question. Both are cards.

• Debit cards give you good credit ratings.

• Debit card is your savings account money, so the bank pays you interest.

• Credit card is borrowing money from a bank and you have to pay interest.

the cost of what someone gives up to get what he or she wants

• opportunity cost

• budget

• loan

• needs

money earned that is leftover after necessities of life are paid

• budget

• loan

• salary

• profit

materials found in nature that are used to produce goods and services

• human resources

• capital resources

• natural resources

• incentives

the workers that produce goods and services

• human resources

• capital resources

• natural resources

• incentives

Provides checking and savings accounts and loans to people in the community

• standard of living

• entrepreneur

• private business

• banks

A person who organizes other productive resources into a business to produce goods and services to make a profit

• specialization

• banks

• entrepreneur

• private business

Measures how many quality goods/services can be produced with a set of resources

• standard of living

• profit

• productivity

• opportunity cost

The option you give up when you choose something else

• opportunity cost

• voluntary exchange

• private business

• standard of living

Deciding how to spend your money

• consumer choice

• trade-off

• opinions

• production cost