EVERFI Future Smarts: Smart Shopping

Front

Select the answer that best describes opportunity cost:

Back

What you give up as a result of choosing one option versus another; a trade-off.

Front

Where should you look for the most objective and unbiased information before buying a new computer?

Back

An independent consumer education website that reviews and rates technology products.

Front

Which of the following expenses should be included in a typical budget?
Options:
taxes,
charitable giving - charities,
savings,
All of the expenses should be included in a typical budget

Back

All of the expenses should be included in a typical budget

Front

Which of the following would be considered a want for most people? A brand-name jacket, Transportation to get to work, A place to live, Nutritious food

Back

A brand-name jacket

Front

If you know the unit price of an item, you are better able to:

Back

Compare prices of two brands

Front

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,
nutritional food

Back

a smartphone

Front

What is an opportunity cost?

Back

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

Front

You are creating a budget for your new business. What should you include? Options: All income and expenses, Fixed expenses but not income, Income but not variable expenses, Fixed and variable expenses but not taxes

Back

All income and expenses

Front

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

Back

Their monthly cost of eating out at restaurants

Front

Your friend’s parents are worried about going over their budget for the month. Which expense would you suggest is NOT a need? Options: rent payment, car insurance, cable service, groceries

Back

cable service