Values
What is a value?
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
Everyone has different values. What are some examples of values?
Family, health, friends, personal appearance.
Needs and Wants
What is a need?
Something thought to be a necessity or essential items required for life
What is a want?
Something unnecessary but desired or items which increase quality of living
Trade-offs and Opportunity Cost
What determines a person's values comes from many sources. What are two items that may influence values?
Family might and friends might
What is opportunity cost?
The benefits you could receive by taking an alternative action
What is a trade-off?
Giving one thing up for another
What is a value?
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
Everyone has different values. What are some examples of values?
Family, health, friends, personal appearance.
Needs and Wants
What is a need?
Something thought to be a necessity or essential items required for life
What is a want?
Something unnecessary but desired or items which increase quality of living
Trade-offs and Opportunity Cost
What determines a person's values comes from many sources. What are two items that may influence values?
Family might and friends might
What is opportunity cost?
The benefits you could receive by taking an alternative action
What is a trade-off?
Giving one thing up for another