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Chap. 9-Wahlig

When people work and get paid, they _________ money. earn
When people buy goods or services they_________money. spend
A plan that shows income, spending, and saving is called a_____________. budget
Something a person must have to live is called a ____________ need
Something a person would like to have, but can live without is called a___________ want
When people decide to buy one thing instead of another, they have made an____________________ economic choice
The thing people give up when they choose one thing instead of another is an ______________________ opportunity cost
To help a person decide what to buy, they can make a____________ chart
A chart will help someone_____________things compare
A chart will show what is _______________to you as you make your choice. important
Businesses provide communities with_____________and_____________ goods and services
Things people make or grow and then sell are_________________ goods
Jobs that one person does for another are called______________ services
Prices of products change when _____________and_____________change. supply and demand
The amount of a product a producer wants to sell is called____________ supply
If supply increases, the price goes__________ down
If a store owner has too many bats, he will____________________ put them on sale
The income a business has left after all its costs are paid is called____________ profit
In order to make a profit, a store owner must___________________________ sell an item for more than it cost to make
A store owner can sell goods at a higher price in order to___________________ increase profit
When deciding what to do with money you have earned, you should think of _____things 5
You should decide if you will spend any money make on your____________ needs
Decide ___________you want to buy what
Make a ____________to help you plan to use your money budget
_______________what you want and find the best____________ research price
The final step when have earned money, is to ______________________ SPEND IT