70
Lesson 70 of 84 · Economics
How Factories Make Things
Choosing one thing means giving up another. If you spend your allowance on a toy, you cannot also buy a book. This is called opportunity cost.
Key Facts
1
Saving means keeping money for later.
2
Producers make things; consumers buy them.
3
Every choice means giving up something else.
Check Your Understanding
Question 1
1 of 2Who is a consumer?