Understanding Saving and Spending

What does being a saver or a spender have to do with?

• How much money you have

• How you feel about who you are

• The job you have

• The friends you have

When do we tend to save our money?

• When we are sad

• When we are happy

• When we are tired

• When we are busy

Why are needs important?

• They are necessary for survival

• They make life more fun

• They are expensive

• They are optional

Why are wants not necessary?

• They are not needed for basic survival

• They are too expensive

• They are boring

• They are always free

What is the main difference between needs and wants?

• Needs are necessary for survival, wants are not

• Needs are more expensive than wants

• Needs are more fun than wants

• Needs are less important than wants

What is an example of a need for survival?

• Food

• Jewelry

• Television

• Soda

Which type of economics is concerned with the smaller picture?

• Macroeconomics

• Microeconomics

• Biology

• History

What is the main concern of economics?

• Unlimited resources

• Limited resources

• Unlimited wants

• Limited wants

Which of the following is NOT a factor of production?

• Land

• Labor

• Money

• Capital

What is an example of entrepreneurship?

• Energy

• A person who combines resources for profit

• Buildings

• Power lines