Economic Choice and Opportunity Cost Flashcard

Flashcard
•
Social Studies
•
3rd Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Economics is the study of how people ___________.
Back
make, use and trade things to make their lives easier.
2.
FLASHCARD QUESTION
Front
True or false. People can have everything they want.
Back
False
3.
FLASHCARD QUESTION
Front
True or False: All choices require giving up something else.
Back
True
4.
FLASHCARD QUESTION
Front
You have to make a choice between playing outside or playing Xbox. You choose to go outside. Playing Xbox is your_____________.
Back
opportunity cost
5.
FLASHCARD QUESTION
Front
What is the next best choice that is given up when a choice is made?
Back
opportunity cost
6.
FLASHCARD QUESTION
Front
What a person gives up to get something they want (your second choice)
Back
opportunity cost
7.
FLASHCARD QUESTION
Front
Tools, machines, equipment, money, and factories used to make goods.
Back
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