Future Smart Part 1

Future Smart Part 1

7th Grade

20 Qs

quiz-placeholder

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Future Smart Part 1

Future Smart Part 1

Assessment

Quiz

Business

7th Grade

Practice Problem

Medium

Used 139+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be considered a want rather than a need for most people

Warm clothes in the winter

A place to live

A smartphone

Nutritious Food

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Select the answer that best describes what an opportunity cost is:

The amount of money you put into savings each year

The trade-off of making one choice and giving up a different choice

The amount of money a business makes every year from sales

The benefit you gain by choosing one option versus another

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You are going to buy a computer, but first you want to do some research to help you select the best model for your needs. Where should you look for the fairest and most reliable information?

The website of a popular computer company

Advertisements that a computer company puts in a computer magazine

An independent consumer education website that reviews and rates computers

Advice from a salesperson in a computer store who earns commissions on sales

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You are creating a budget for your new business. What should you include?

All income and expenses

Fixed expenses but not income

Income but not variable expenses

Fixed and variable expenses but not taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a variable expense for many adults?

Their monthly cost of eating out at restaurants

Their monthly rent payment

The monthly payment on their car loan

Their monthly payment for health insurance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your friend's parents are worried about going over their budget for the month. Which expense would you suggest is NOT a need?

Rent Payment

Car Insurance

Cable Service

Groceries

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you know the unit prices of two different brands of an item, you are better able to:

Compare the prices of the two brands

Estimate how much of the item you will need

Determine which of the two brands is higher quality

Figure out the discount during a sale on the two items

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