1. Decisions, Decisions, Decisions!
Savings

2. Budgeting = Decision Making
Needs
Wants
Goods
Services
Scarcity
Opportunity Cost

3. Needs
Something required for your survival
Food
Shelter
Clothing

4. Wants
Something you desire, but do not have to have to survive

5. Goods
Physically tangible items that we can buy

6. Services
Physically intangible things
Child care
Health care
Utilities

7. Scarcity
People’s wants for goods and services exceeds society’s capacity to produce them

8. Opportunity Cost
represents an alternative given up when a decision is made.

9. Sweet Jelly Belly Beans Sweet Jelly Belly Beans 2
Jelly Belly Jam
Sweet Jelly Belly Beans
Sweet Jelly Belly Beans 2