Credit and Debit

Productive resources are limited. What does this imply?

People cannot have anything they want, is the...

People must make choices, is the...

Every choice involves a cost, is the...

Choices have consequences, is the...

People respond to incentives, is the...

Using a ₁₎______ ____ you will receive a ₂₎_______ with the total amount due, the ₃₎_______ payment due and when the payment is due. Fill in the blanks.

_________ is paying for the use of money over a period of time. If you pay the total amount due on or before the due date, you will avoid paying _________ on your credit card bill.

If you only pay the _______ amount due on your credit card, you will have to pay on the remaining amount plus the interest on your next month’s bill.

Making more than your _______ _______ each month saves you more in the long run.