Ch. 14 - Economic Decision-Making Skills Flashcards
1
Q
what you gain as the result of the decision you make
A
benefit
2
Q
the natural, logical result of an action
A
consequence
3
Q
what you give up as the result of a decision you make
A
cost
4
Q
the delayed results of the choices you make
A
future consequences
5
Q
single or separate
A
individual
6
Q
the immediate results of the choices you make
A
present consequences
7
Q
not enough resources to produce or purchase all the goods and services that people want or need
A
scarcity
