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Which is an example of saving?
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Susan is going to obtain a loan to buy a stereo system. This is an example of which economic activity?
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Rick cannot afford to buy Christmas gifts for everyone in his family. This illustrates
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Tom borrowed $100 from a friend to buy items he needed for work with a retail value of $300. When he gets his paycheck, he will have enough money to pay his debt. This illustrates:
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Which is an example of responsible borrowing?
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Which is an example of responsible earning?
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Sharon paid for an unexpected trip to the emergency room instead of paying her car payment. This illustrates:
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
Jim decided to save his money for his senior expenses rather than spending it at the mall. This illustrates
the Law of Scarcity
wise use of credit to extend a person's buying power
borrowing
Ed accepted a loan from his uncle because he knew he could pay it back.
Mary put money in a bank account.
Dorothy kept her part-time job until she could find another so she could meet her monthly expenses
making wise choices in light of trade-offs
an opportunity cost
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