Unit 2: CFA 1 (Standard 1)
Quiz
•
Social Studies
•
12th Grade
•
Easy
Standards-aligned
Cory McCracken
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22 questions
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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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