2nd grade economics
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9 terms
Terms | Definitions |
|---|---|
 income |  the money you make from your job |
| budget |  the plan you have for the money you spend |
| interest |  the money you earn for keeping your money in the bank |
| things used for money |  shells, cows, whale teeth |
| bartering |  trading a service or goods for another service or goods |
| scarcity |  when you can't get the product or thing you want because it is not available. |
| bank |  a place where you keep your money to keep it safe |
| opportunity cost |  what you give up to get something else |
| competition |  ...when one store charges lower prices than another |
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