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13 Cards in this Set
- Front
- Back
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Budget
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A plan that shows income, spending, and saving
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Earn
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To get paid for working
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Product
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A good or a service
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Economic Choice
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The decision to buy one thing over another
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Profit
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The income a business has left after all its costs are paid
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Income
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All the money a person earns from a job or other places
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Service
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A job that one person does for another
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Supply
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The amount of a product that producers want to sell at different prices
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Good
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Something people make or grow and then sell
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Saving
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The amount of income that is not spent
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Spending
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The amount of income a person uses to buy goods and services
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Opportunity Cost
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What you give up when you choose one thing instead of another
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Demand
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The amount of goods or a service that people want and can pay for at different prices
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