Foundations of Financial Literacy Chapters 1 and 2

Method of weighing the costs against the benefits of an action, a purchase, or a financial decision. (Chapter 1)

• goal

• cost-benefit analysis

• values

• management

Value of the option you give up. (Chapter 1)

• entitlement

• standard

• opportunity cost

• management

Government program that provides financial benefits to eligible citizens. (Chapter 1)

• entitlement

• resource

• marginal analysis

• values

Application of science and research to human life and environments. (Chapter 1)

• standard

• marginal analysis

• ethics

• technology

Objective to be obtained in a specific amount of time. (Chapter 1)

• goal

• cost-benefit analysis

• law of diminishing marginal utility

• standard

Established measure of quality, value, or quantity. (Chapter 1)

• entitlement

• standard

• resource

• values

Tools you can use to reach your goals. (Chapter 1)

• standard

• goal

• ethics

• resource

Influences the way you live and think as well as your decisions and behaviors. (Chapter 1)

• standard

• needs

• wants

• values

Necessities a person must have to survive. (Chapter 1)

• needs

• wants

• values

• goal

Moral principles or beliefs that direct a person's behavior. (Chapter 1)

• standard

• values

• management

• ethics