Topic 1,2: SS5E4 Define the term budget or explain what it means to have a budget, identify the elements of a personal budget (income, expenditures, saving), explain why personal spending and saving decisions are important.
Vocabulary
bank, budget, commercial bank, credit, debt, entrepreneur, federal income taxes, loans, personal income, interest, invest, opportunity costs, private property, property taxes, public property, public services, sales taxes, savings bank, spending, loan, producers, consumers