
Economic Choice Today: Opportunity Cost
Quiz
•
Social Studies
•
6th Grade
•
Practice Problem
•
Easy
Taylor Wilson
Used 1+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is the term for something that motivates or encourages someone to do something?
Utility
Incentives
Trade-off
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which term refers to the usefulness or satisfaction gained from consuming a product or service?
Utility
Economize
Marginal Cost
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does it mean to reduce expenses or save resources?
Trade-off
Economize
Opportunity Cost
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is the term for the decision-making process that involves comparing the costs and benefits of different options?
Cost-Benefit Analysis
Marginal Benefit
Incentives
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is the term for the next best alternative that is given up when a choice is made?
Marginal Cost
Opportunity Cost
Utility
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is the term for the additional cost of producing one more unit of a good or service?
Marginal Cost
Trade-off
Economize
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is the term for the additional benefit received from consuming one more unit of a good or service?
Marginal Benefit
Utility
Cost-Benefit Analysis
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