1.3 Opportunity cost

1.3 Opportunity cost

10th Grade

15 Qs

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1.3 Opportunity cost

1.3 Opportunity cost

Assessment

Quiz

Social Studies

10th Grade

Medium

Created by

Tianming Gao

Used 84+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is trade-off?

Your choice

What you give up to make a choice

How much money you pay

The willingness to give something away

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

Having too many resources

Not having enough resources

Need to make a choice

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is opportunity cost?

Your first choice

Your final choice

How much more money you pay

The last you would give up to make a choice

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A popular bakery has only a few ingredients left to make their products.  They could bake muffins or cookies, but they can’t make both.  The bakers decide to make cookies for their customers.  What is the opportunity cost of their decision?
muffins 
cookies 

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Welch family has saved some money. They can spend it on a vacation to the Grand Canyon or build a swimming pool in their backyard. They decide to spend the money on a swimming pool. What is the opportunity cost of their decision?

vacation

swimming pool

backyard

money

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Emelia has been invited to a sleepover at Chloe’s house for this Saturday. Emelia has tickets to see her favorite band in concert that same night. She decides to give the tickets to her sister and go to Chloe’s house. What is the opportunity cost of her decision?

seeing her favorite band

spending time at a friends house

Chloe's house

a sleepover

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Max is studying for his spelling test. Unfortunately, his favorite TV program is on right now. If he studies for the test, he will miss watching the show. Max decides to study for his test instead of watching TV. What is the opportunity cost of his decision?

studying for a test

watching TV show

spelling test

nothing

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