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Chapter 1 Grade 7

Review for Test

AB
PriorityA ranking of goals or objectives in the order of their value or importance.
ConsumerAny person or group that buys or uses goods to satisfy personal wants and needs.
Rational choiceThe decision that maximizes the benefits at the lowest possible cost.
Opportunity costThe value of a second choice that is given up when a first choice is taken.
Consumer DecisionA choice made by a person concerning how to use resources or products.
Goalsomething to be accomplished in a certain period of time.
ObjectiveIs a specific condition that an individual or organization wishes to achieve.


Mrs. Bender

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