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Sheila realized that she needed to choose something to wear for her scholarship interview. Which step in decision-making is this?
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
Which is an example of saving?
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
Which is an example of responsible spending?
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
Harold saves all extra income earned during peak seasons to give him money to fall back on during off-season months when work is more difficult to find.
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
What is the definition of opportunity cost?
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
Which is the BEST example of needs influencing financial decisions? Carol decided to use her birthday money to:
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
Tom’s goal is to buy a $500 stereo system by saving $50 a week from each paycheck for the next ten months. Which phrase BEST describes this goal?
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
Michelle charges $8 an hour when she babysits for neighbors. This is an example of which economic activity?
The highest-valued alternative that must be given up when a choice is made
Identify the decision to be made
Ms. Dennis has $100 of his salary for each pay period deposited in an interest-bearing account.
Specific and time-bound
Increases financial security
Before buying her class ring, Beth compared costs and quality of rings from three sources.
earning
purchase a new winter coat because she’d outgrown her old one.
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