Financial Literacy - Choices

What are opportunity cost

• How much it cost to buy something

• what you give up in order to get something else

What is a goal

• Something you want to achieve.

• Food and water

What is a need

• A new game you want to buy

• something required for a safe and healthy life

What is a want

• a desire for something.

• something you need tom survive

Water is a want

• Yes

• No

A video game is a want

• Yes

• No

Clothes are a need

• Yes

• No

Saving for a new car is an example of a goal

• Yes

• No

If you have limited means, you _____.

• have too much money

• spend too much money

• save enough money

• can’t have everything

When you must give something up in order to get something else, it is called _____.

• a sound investment

• an opportunity cost

• a lost opportunity

• a limited means