Making Choices and Saving SOL 1.7 - 1.9

Why do people save money?

• They like to spend paper bills and coins.

• They want to buy something later when they have enough money.

• They want to sell things before they buy anything.

• They can write a check to pay for something.

Things that people make, buy, or use to satisfy wants are called...

• goods

• buyers

• choices

• sellers

What happens when people cannot have all the goods and

services they want?

• They sell their goods.

• They take somebody else’s goods.

• They make a choice.

• They find a free service.

People are consumers when they...

• make goods and services

• buy or use goods and services

• save their money to spend later

• know all their choices

Which picture shows a consumer?

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• 
• 
• 

Which picture shows a producer?

• 
• 
• 
• 

When people have a choice to make, what can help them decide?

• Thinking about the costs and benefits of the decision

• The ideas from a consumer

• The ideas from a producer

• Charts of goods and services

Which statement is true?

• Decisions only have costs.

• Decisions only have benefits.

• All decisions have costs and benefits.

• All decisions are easy to make.

Which two are examples of money?

• 
• 
• 
• 

True or False: A cost is what you give up when you make a choice.

• True

• False