It's Your Money, Your Time, Your Work, Your _______

People have to make choices because they have unlimited wants and needs and limited resources:

I want the Lexus with the luxury package, but I can only afford the Geo with four wheels!

Businesses, as well as the government, are also faced with these decisions because they decide what to buy or produce based on consumer wants and needs. If they produce a whole lot of things that nobody buys, they'll be out of business very fast.

Next, we’ll take a look at the bigger economic picture to see how economic decisions made by businesses and the government affect you as the consumer.