Economic Choice and Opportunity Cost

The choice that is made among alternatives or possibilities?

• economic choice

• opportunity cost

What is the next best choice that is given up when a choice is made?

• economic choice

• opportunity cost

You go to Target and pick 2 shirts. You only have enough money for 1 of them. One of them is on sale and the other is full price. You pick the one on sale. What is you economic choice?

• the money

• the full price shirt

• the on sale shirt

• Target

True or false: People can have everything they want.

• True

• False

True or False: All choices require giving up something else.

• true

• false

You have to make a choice between playing outside or playing Xbox. You choose to go outside. Playing Xbox is your _________________.

• opportunity cost

• economic choice

• fun

• happy place