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Social St. Ch. 9

Social Studies Ch. 9 Study Guide

QuestionAnswer
A bank pays __________ in exchange for keeping money. interest
What is a budget? a plan for using money
Why do more people use money than barter? Money is easy to carry, and everyone knows what it is worth
Something you give up to get something else that you want more is called ___________. opportunity cost
People who make big incomes usually have more education or skills
People use their incomes to save money or pay for goods and services
Give an example of bartering Matt gave Karen six toy cars, and Karen gave Matt a baseball
Opportunity cost is what you give up in order to buy something else
Why did Marisa choose the tan jacket over the maroon jacket? It fit better and cost less.
Scarcity forced Marisa to choose between the tan jacket and the maroon jacket.
What was the opportunity cost of Marisa's jacket? the CD
Created by: grade3
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