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9 terms

2nd grade economics

ch 9
STUDY
PLAY
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