Week 25 - Economic Choices

Income is money that someone earns by ___________________.

• playing

• sleeping

• working

• eating

Why is it important for people to earn an income?

• to buy things they need and want

• to buy things they ONLY want

• it is not important to earn an income

Cause and Effect

People work for an _____________ ------> to be able to purchase _____________.

• goods , income

• income , goods

• services , goods

What is the term for keeping income?

• budgeting

• earning

• saving

• spending

What does the word save mean?

• to buy goods or services

• to work for money

• to keep money

What does the word spend mean?

• to buy goods or services

• to work for money

• to keep money

What does the word earn mean?

• to buy goods or services

• to work for money

• to keep money

Sasha wants a game that costs $25. She earned $10 doing chores.

What should she do?

• earn more money

• buy a different game

• ask her friends for money

• give up and not buy anything

Which of the following shows earning?

• place the money in a bank

• buy snacks or new shoes

• do work or start a business

Which of the following shows spending?

• place the money in a bank

• buy snacks or new shoes

• do work or start a business