Choices and Cost

What does a baker specialize in?

___ are tasks that people do for other people in exchange for payment.

A ___ is someone who buys goods or services.

When you specialize in something you become a(n) ___ in a particular skill.

___ are comunities of people that have something in common.

___ is the benefit that someone does not gain by making a different choice.

Claim: Lisa believes everyone is a producer at some times and a consumer at other times. Do you agree or disagree?

___ are items people can buy.

What does a librarian specialze in?

A ___ is someone who makes goods or provides a service.

___ is another word for business.

Why do people specialize is different jobs?

Click whichever one(s) are a good: (click as many as you think are correct)

James has to decide b/w cleaning his room or baking cupcakes. What is the opportunity cost if James chooses not to bake?

Click whichever one(s) are a good: (click as many as you think are correct)

Click whichever one(s) are a service: (click as many as you think are correct)

Who controls economic activity in a free enterprise system?

Click whichever one(s) are a service: (click as many as you think are correct)

The total of the opportunity cost and the cost of carrying out an activity that was chosen is the ___.

What roll does a government play in a free enterprise system?

What is the economic cost if James bakes the cupcakes?

___ means that people are free to buy and sell and to start and run their own business .