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Trade Off

Authored by John Robinson

Social Studies

12th Grade

Trade Off
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_______ cost of the next best alternative use of money, time, or resources when one choice is made rather than another

trade-off

opportunity cost

need

want

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When you make a choice, all the options that you have are called...

Trade-offs

opportunity cost

lost opportunities

options

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What name is given to the most important item you give up when you make a decision?

Trade-offs

Opportunity cost

Lost opportunities

Options

4.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What are the trade-offs of Juan's decision to go to work?

Go to work

Go to a football game

Go to a friend's house

Go home and sleep

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Juan came up with the following prioritize (in order) list of what he could do Friday after school.

An economist would say that the economic cost of Juan going to work was...

Going to work

Going to a football game

Going to a friend's house

Going home and to sleep

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following BEST represents the definition of a trade-off?

the competition between two individuals selling the same product

giving something up without the expectation of a benefit in return

the act of giving something up

giving up something of value in order to gain something of greater value

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Refer to the graph provided: If a technology company decreases its production of mobile phones from 8 phones per day to 7 phones per day, this will result in an increase in the production possibilities of how many cameras per day?

eighteen

one

twenty-seven

ten

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