Newark Liberty International Airport (IATA: EWR, ICAO: KEWR), formerly known as Newark International Airport, is an international airport within the city limits of both Newark and Elizabeth, New Jersey, United States. It is about 15 miles (24km) south west of Midtown Manhattan.
Dealing with finances is a key element of home economics. Understanding concepts such as debt, credit, loaning, interest rates and so on are important to having a healthy economic home. Life skills such as making a budget, keeping financial records and making frugal purchasing choices are all part of this subject area.
After you finish this lesson you'll be able to: 1  Define concepts like scarcity and opportunity cost. 2  Understand the different ways economics can measure value. 3  Comprehend how benefits and costs are weighted when making a choice. 4  Know why opportunity cost must be viewed in comparative terms.