Financial Decisions Vocab
Authored by Coach Simmons
Business
12th Grade
Used 8+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term is defined as "Goods or services that are required for survival"?
Want
Value
Needs
Trade-off
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Opportunity cost"?
Giving up one thing for another
The value of the next best alternative that must be forgone as a result of a decision
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term is described as "Giving up one thing for another"?
Needs
Trade-off
Value
Opportunity cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Value"?
Goods or services that are required for survival
The value of the next best alternative that must be forgone as a result of a decision
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term is defined as "The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival"?
Needs
Trade-off
Value
Want
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to "Goods or services that are required for survival"?
Value
Needs
Opportunity cost
Trade-off
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "Trade-off" mean?
The value of the next best alternative that must be forgone as a result of a decision
Giving up one thing for another
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival
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