Economic Choices

A want is something that would be nice, but is not necessary.

• True

• False

A service is an item that is made or grown to be sold.

• True

• False

A good is any work done for someone else.

• True

• False

Someone that buys a good or service

• Produces

• Consumer

A person that makes or grows items to sell

• Producer

• Consumer

To keep your money means

• Save

• Spend

Opportunity cost

• What you give up when you make a choice

• The costs of an item

A need is something that is essential to staying alive.

• True

• False