Economics

Economics

3rd Grade

10 Qs

quiz-placeholder

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Assessment

Quiz

Social Studies

3rd Grade

Hard

Created by

Paige Beidelman

Used 5+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

My choices are ice cream or candy. My economic choice was ice cream.
What is my opprotunity cost?

ice cream

toy

save money for later

candy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

My choices are toy or going to the movie. My economic choice was going to the movies.
What is my opprotunity cost?

ice cream

toy

save money for later

candy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

My choices are saving money or spend now. My economic choice was spend money now.
What is my opprotunity cost?

ice cream

toy

save money for later

candy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic choice is ...

What is given up when an econimic choice is made.

Choosing one thing over another.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opprotunity cost is ...

What is given up when an econimic choice is made.

Choosing one thing over another.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Lauren wants to earn money to buy a new video game. She can either open a lemonade stand or have a bake sale to raise money.  She does not have time to do both. What is the opportunity cost for Lauren if she decides to open a lemonade stand?


She will never be able to buy the video game

She cannot have a her bake sale

She will not earn any money

She cannot sell any lemonade

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Michael went to the movies with his friend.  He had $3.50 saved from his allowance.  Michael wanted to buy a hamburger, a hotdog, fries, and a soda.  What will Michael most likely do?

He will not order anything because he is upset that he doesn't have enough money for everything.

He will order everything, call his mother, and ask her to bring him some more money.

He will have to make a choice and choose the 3 items he wants the most.

He will ask to borrow money from his friend.

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