Opportunity Cost

Opportunity Cost

4th Grade

14 Qs

quiz-placeholder

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Opportunity Cost

Opportunity Cost

Assessment

Quiz

Social Studies

4th Grade

Medium

Created by

Margaret Pavolini

Used 24+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are people who use or buy goods and services?

Producers

Consumers

Users

Sellers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used when there are not enough resources for everyone to have what they want?

Abundance

Opportunity cost

Scarcity

Consumerism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People must make decisions as a result of what?

Scarcity

Consumerism

Opportunity cost

Producers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a benefit of global trade?

Lower prices

Creates new jobs

Invasive species

We get goods from around the world-not just what was made in MS.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Mississippi’s biggest export?

Cotton

Soybeans

Transportation vehicles

Petroleum

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity cost is how much more you spend to buy something.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity cost is what you give up to get something else instead.

True

False

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