Personal Finance Unit 1 Review

The graph depicts the _______.

Second step in the decision making process.

Third step in the decision making process.

Your role which includes you paying taxes and exercising your right to vote.

Resources are 

First step in the decision making process.

The picture below depicts which of the following?

Economies Answer what 4 questions?

The price at which the quantity supplied exactly equals the quantity demanded of that product.

Your role in which you make buying decisions.

Standards we live by.

Things we want to accomplish.

Tangible things you can see and touch are known as _____.

Which economy is represented by this picture?

Economics is

Leads to lower prices which allows the quantity demanded to equal the quantity supplied.

Production is

The items below are classified as ______.

Final step in the decision making process.

Fourth step in the decision making process.

The items below are classified as ______.

The graph depicts the _______.

In a decision, the value of what is given up when you make a choice or the next best thing.

Tools, equipment, land, factories, and money used to produce goods.

Producers are willing to offer more of a product for sale at a higher than lower price.

Which economy is represented by this picture?

Economic Systems are 

Consumers will demand more of a product at a lower price than at a high price is known as ____.

The graph depicts the _______.

Which economy is represented by this picture?

Labor, entrepreneurs, workers, teachers, doctors, and carpenters.

Your role which ears you income to buy the things you needs and wants.

Raw materials provided by nature, oil, fish, water, trees

Which economy is represented by this picture?