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Economic Choice and Opportunity Cost Quiz

Authored by Delaci Mallory

Social Studies

3rd Grade

Used 215+ times

Economic Choice and Opportunity Cost Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Economics is the study of how people ___________.

grow things in their garden to have food to eat.

make, use and trade things to make their lives easier.

decided between goods and services.

how to make money.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

True or false. People can have everything they want.

True

False

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

True

False

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

opportunity cost

fun

economic choice

happy place

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

economic choice

opportunity cost

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

What a person gives up to get something they want ( your second choice)

producer

service

opportunity cost

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Tools, machines, equipment, money, and factories used to make goods.

Capital Resources

Producer

Service

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