Unit 2: CFA 1 (Standard 1)

Unit 2: CFA 1 (Standard 1)

12th Grade

22 Qs

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Unit 2: CFA 1 (Standard 1)

Unit 2: CFA 1 (Standard 1)

Assessment

Quiz

Social Studies

12th Grade

Easy

GA.SS.12.SSEPF1

Standards-aligned

Created by

Cory McCracken

Used 26+ times

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a fixed expense in a personal budget?

Rent payment

Grocery shopping

Movie tickets

Clothing purchases

Tags

GA.SS.12.SSEPF1

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "opportunity cost" mean in economics?

The total amount of money spent on a purchase

The value of the next best alternative given up when making a decision

The price of a product in the market

The amount of money saved in a bank account

Tags

GA.SS.12.SSEPF1

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a major life decision that can be analyzed using economic decision-making skills?

Choosing a breakfast cereal

Deciding which college to attend

Selecting a movie to watch

Picking a color for your bedroom walls

Tags

GA.SS.12.SSEPF1

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a budget?

A plan for managing income and expenses

A type of bank account

A government tax

A loan from a bank

Tags

GA.SS.12.SSEPF1

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a "trade-off" in decision-making?

Getting everything you want

Giving up one thing to get something else

Saving all your money

Spending without thinking

Tags

GA.SS.12.SSEPF1

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a variable expense?

Monthly car payment

Utility bill

(electric or trash)

Mortgage payment (house)

Insurance premium

Tags

GA.SS.12.SSEPF1

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of creating a personal budget?

It helps track spending and savings

It increases your income automatically

It eliminates all expenses

It guarantees financial success

Tags

GA.SS.12.SSEPF1

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