Unit 5 Vocab Review

What is a "good" according to the definition?

• Something you pay someone to do for you

• Something you can buy and keep

• A feeling of sadness

• A plan for spending money

Which of the following is an example of a "service"?

• Buying a book

• Getting your hair cut at a salon

• Feeling regretful

• Trading toys

What does "regret" mean?

• Feeling happy about a choice

• Feeling sad or sorry about a choice you made

• Doing something quickly without thinking

• Trading without money

What is an "impulse" action?

• Planning carefully before acting

• Doing something quickly without thinking about it first

• Saving money for the future

• Helping a friend with homework

Which of the following is a "want"?

• Water

• Food

• A new video game

• Clothes

What does "sacrifice" mean?

• Buying something you like

• Giving up something you like to help someone else

• Earning money from a job

• Trading goods without money

Which of the following is a "necessity"?

• A toy

• A special treat

• Food

• A new book

What is a "budget"?

• A plan for how to spend your money

• A feeling of sadness

• A quick decision

• A type of good

What does "barter" mean?

• Earning money from a job

• Trading things without using money

• Buying goods from a store

• Saving money for the future

What is "income"?

• The money a person earns from working or selling something

• A plan for spending money

• A feeling of regret

• A necessity for living