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Social Studies SOL 3.9 Economic Choices

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Question
Answer
Why do people make CHOICES of what to buy?   People cannot have everything they want. They don't have all the money in the world.  
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What is it when you give up something else when making 1 choice to buy something?   OPPORTUNITY COST?  
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What is an ECONOMIC CHOICE?   The choice of or decision among alternatives or possibilities  
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If your choices are to buy ice cream or popcorn, but you choose ICE CREAM, what is the OPPORTUNITY COST?   POPCORN  
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If your choices are to buy a TOY or VIDEO GAME, but you choose a VIDEO GAME, what is the OPPORTUNITY COST?   TOY  
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If your choices are to spend MONEY now or save for the future (SAVINGS), and you SPEND NOW, what is the OPPORTUNITY COST?   SAVINGS (for future)  
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Goods are things we _____ or ______.   NEED or WANT  
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When we save money in the bank, what can we EARN?   INTEREST (more money)  
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