Why do people have to make choices about how they spend money?
Economics

Quiz
•
Social Studies
•
4th Grade
•
Easy
Bianca Jones
Used 9+ times
FREE Resource
48 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Because money is unlimited
Because wants are limited
Because money and resources are limited
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to understand opportunity cost when making decisions?
It helps you avoid saving
It helps you know what you give up when choosing something else
It tells you which stores have sales
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does scarcity affect decision-making in families?
It allows everyone to get what they want
It forces families to pick what’s most important
It leads to more free goods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What might happen if a store advertises a product as 'limited time only'?
It increases the incentive for consumers to buy it
It decreases interest in the product
It causes people to save more money
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can advertising change a consumer’s choice?
It makes all products more expensive
It informs or persuades people to buy something
It teaches people how to start a business
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a child chooses to buy a toy instead of saving for a bike, what is the opportunity cost?
The toy
The money
The bike
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might a business choose to offer 'buy one, get one free'?
To increase taxes
To lower demand
To give consumers an incentive to buy more
Create a free account and access millions of resources
Similar Resources on Wayground
43 questions
Iroquois and Algonquian

Quiz
•
4th Grade
43 questions
Wisconsin's Native Americans

Quiz
•
4th Grade
47 questions
Morphology Weeks 1-6 Review

Quiz
•
4th Grade
53 questions
Grade IV

Quiz
•
4th Grade
47 questions
Social Studies Term 1 Gr 4 Review

Quiz
•
4th Grade
50 questions
4SSt VW

Quiz
•
4th Grade
43 questions
Social studies

Quiz
•
4th Grade
49 questions
Leap Super Review- Social Studies

Quiz
•
4th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade