Lesson: 1 Making Decisions (Part 1)

​Lesson: 1 Making Decisions (Part 1)

Multiple Choice

What is the first step of the decision-making process?

• Gather Information

• Identify the Problem

• Evaluate the Results

• Make a Plan of Action

Multiple Choice

Procrastination is an example of?

• An Economic Influence

• A Decision-making Strategy

• A Superhero's Mantra

• Poor Time Management

Multiple Choice

Higher interest rates result in?

• Going Viral

• Higher Prices

• Sold Out Shows

• Higher Costs of Borrowing Money

Multiple Choice

Rising prices causing lower buying power is referred to as?

• An Inflation Risk

• An Inflation Gain

Multiple Choice

Interest earned on savings may be referred to as?

• Free Money

• The Time-value of Money

• Delayed Gratification

• Compound Interest

Multiple Choice

The final step of the decision-making process is:

• Evaluating the Results

• Gathering Information

• Identifying the Problem

• Selecting the Best Course of Action

Multiple Choice

Changes in the buying power of the dollar are measured by:

• The Unemployment Rate

• The Money Supply

• The Consumer Price Index

• Interest Rates

Multiple Choice

Consumer spending is likely to rise when: 

• Unemployment is High

• Interest Rates are Low

• Taxes Increase

• Interest Rates are High

Multiple Choice

Investments that may be difficult to convert to cash quickly have a high ___________ risk.

• Inflation

• Economic

• Income

• Liquidity

Multiple Choice

What a person gives up when making a decision is commonly called:

• The Time-value of Money

• A Personal Risk

• An Opportunity Cost

• Spontaneity