Tradeoffs and Opportunity Cost
Authored by Patricia White
Social Studies
9th - 12th Grade
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Our wants are always greater than our resources.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics is the study of money and how to get rich.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics is the study of people and how they make decisions.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Every decision you make has a cost.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you make a choice, all the options that you have are called...
Trade-offs
opportunity cost
lost opportunities
options
6.
MULTIPLE CHOICE QUESTION
30 sec • 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
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity cost can also be called the ____ of your decision.
Cost
Reward
Evaluation
Lost opportunity
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