Basic Economics

Front

Economics is all about

Back

making decisions

Front

What do economic decisions begin with?

Back

fulfilling needs and wants

Front

Fresh water is a limited resource. This is an example of

Back

scarcity

Front

Scarcity can be a result of high demand and might lead to -

Back

higher prices

Front

This word means to encourage a behavior or decision.

Back

incentive

Front

This picture shows an example of -

Back

a negative incentive

Front

Economic incentives usually involve -

Back

money

Front

What do people compare in order to make choices?

Back

costs and benefits

Front

Andrew stayed up late playing video games and feels really tired in the morning. What is the cost of his decision?

Back

feeling tired in the morning

Front

What is the benefit of Alicia going to college and getting a Bachelor's degree, despite being in debt $75,000?

Back

Bachelor's degree