ML FBLA Financial Literacy - Decision Making

ML FBLA Financial Literacy - Decision Making

6th - 8th Grade

20 Qs

quiz-placeholder

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ML FBLA Financial Literacy - Decision Making

ML FBLA Financial Literacy - Decision Making

Assessment

Quiz

Business

6th - 8th Grade

Practice Problem

Easy

Created by

Jennifer Parker

Used 6+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in the decision-making process?

Consider the consequences

Identify the problem or decision

Choose an option

Evaluate alternatives

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to make an informed decision?

Making a decision quickly

Making a decision without any help

Making a decision based on facts and information

Making a decision based on feelings only

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a short-term decision?

Deciding which college to attend

Choosing which movie to watch tonight

Deciding which career to pursue

Buying a house

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an opportunity cost?

The benefit of the decision made

The money you save when making a decision

The cost of the decision, including what you give up

The amount of money you earn from a decision

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these would be a good example of a long-term decision?

Choosing what to eat for dinner

Deciding what to wear today

Choosing a high school

Deciding which video game to buy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When considering alternatives in decision making, what is an important factor to keep in mind?

The easiest option

The most expensive option

The pros and cons of each choice

The option your friends choose

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you decide to spend your allowance on a new video game, what is the opportunity cost?

The money you spent

The video game

The other things you could have bought instead

The amount of time you spend playing the game

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