1.02 Word Scramble
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Term | Definition |
Needs | Goods or services that are required for survival. |
Opportunity cost | The value of the next best alternative that must be forgone as a result of a of decision. |
Trade-off | Giving up one thing for another. |
Value | A fundamental belief or practice about what is desirable, worthwhile, and important to an individual. |
Want | The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival. |
Goal | The end result of something a person intends to reach somewhere in the near future. |
Financial Planning | Managing your money to reach financial goals. |
Financial Goal | Specific objectives that are accomplished through financial planning. |
Short-term goal | A goal that is achieved in less than a year. |
Long-term goal | A goal that is achieved in more than a year. |
Trade-off | Giving up one thing for another. |
Opportunity cost | The value of the next best alternative that must be forgone as a result of a decision. |
Created by:
ZLittle97
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