Unit 1: Meeting Community Needs and Wants

a group that is brought together because of a shared interest or place where its members live

• community
• cost
• natural resources
• capital resources

something we cannot live without

• need
• consumer
• demand
• services

something that would be nice to have, but that we can live without

• want
• consumer
• community
• opportunity cost

having limited resources available to meet all our needs and wants

• scarcity
• spend
• supply
• capital resources

to use money to buy something

• spend
• save
• producer
• budget

to not use or spend something, such as money

• save
• earn
• budget
• community

a plan for how to spend your money

• budget
• save
• human resources
• cost

to get something by working for it

• earn
• spend
• give
• benefit

something that you give up

• cost
• capital resources
• earn
• opportunity cost

something that you gain

• benefit
• earn
• capital resources
• save