Lesson 71 - unit 15 Flashcards
How do individuals make a difference in the economy?
- Make decisions
- Consider opportunity costs
- Face tradeoffs
- Deal with consequences
- Create supply and demand
In what tension between 2 realities do Christians live?
The spiritual world and the physical world
What does economics have to do with our relationship with God?
God calls us to be wise with resources, compassionate to the poor, and work to provide for ourselves.
What is gained by admitting our dependence on God?
It gives God the glory and allows us to work with Him instead of against Him.
What is an individual’s responsibility regarding work?
To use it to support yourself and bless others.
What are 2 things that demonstrate a person’s real priorities?
How they spend their time and money.
What does God expect of us?
To live up to our potential.
According to Kent Nelson, how has competition helped UPS?
It forced them to be more determined, innovative and successful.
What does Nelson say is key to everything UPS has done?
Individuals making the company work with teamwork.
What did Oscar do?
He replaced a window screen.
