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Buisness 😑😑ðŸ˜

TermDefinition
What is a resource? A resource is anything we could use in order to meet our need or achieve our goals .
Explain a need and give an example. A need is something that we simply cant live without: that is essential for survival or something that plays a very important part in our lives.e.g. Food , air , water , shelter , money , clothes.
Explain a want and give an example. A want is something that we would like to hav but is not necessary for survival.it may improve our way of living but it is not essential.e.g. Phone , holiday , turtle ( i mean come on like who dusent want a turtle) =)
Explain the term opportunity cost . Its the item that you miss out on when choosing between two stuff.
What does it mean by being money smart? Spending your money on items that are more important at the moment , putting your needs before your wants.
Explain income? Income is money you receive into a household.
Created by: NISAAA
 

 



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