Saving
Savings is when you put
Economics
_________________ away
Study Guide 2
to ______________ later.
Name:
Keep this study
guide to review
and study for the
economic test.
__________________
Preview of
Topics
Choices
Economic Choice
Opportunity Cost
Scarcity
Savings
Choices
v
People
make choices
Opportunity Cost
When you ____________
Scarcity
Scarcity means that
because they cannot
between two things
have everything they
(candy or ice cream),
__________. A choice
the opportunity cost is
is made when goods,
the thing you DID NOT
not able to have all
services, or ___________
choose.
the ______________ and
are limited.
Making a choice
means you must
Choices
Choice
Made
ice cream
or
popcorn
ice cream
Opportunity
Cost
___________________ are
limited. People are
services they want.
You have a shortage.
_______ something up.
Economic choice is
Examples:
spend
now
or
save for
the future
save for
the future
the choice you make
Make your own…
when you buy
Choices
goods, ____________,
or resources.
Choice
Made
Opportunity
Cost
1 pencil
2 boys
2 dolls
3 girls