Needs/ Necessities

Economics and Career Concepts

Flashcard
•
Business
•
8th Grade
•
Hard
Natalie Sheridan
Used 1+ times
FREE Resource
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34 questions
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1.
FLASHCARD QUESTION
Front
Back
Basic requirements for survival, such as food, water, and shelter.
2.
FLASHCARD QUESTION
Front
Wants/Luxuries
Back
Desires for non-essential items that enhance comfort and pleasure.
3.
FLASHCARD QUESTION
Front
Goods/products
Back
Tangible items that satisfy human wants and provide utility.
4.
FLASHCARD QUESTION
Front
Services
Back
Intangible activities or benefits provided to satisfy needs or wants.
5.
FLASHCARD QUESTION
Front
Opportunity cost
Back
The loss of potential gain from other alternatives when one alternative is chosen.
6.
FLASHCARD QUESTION
Front
Value
Back
The importance, worth, or usefulness of something.
7.
FLASHCARD QUESTION
Front
Additional/Associated costs
Back
Extra expenses related to a purchase or decision.
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