Finance Week 4 P1 Explore opportunity cost

Finance Week 4 P1 Explore opportunity cost

Assessment

Interactive Video

Financial Education

12th Grade

Easy

Created by

Miracle Curvy

Used 2+ times

FREE Resource

4 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does opportunity cost refer to?

The monetary cost of an item.

The value a person could have received but passed up in pursuit of another option.

The total cost of all available options.

The time spent waiting in line for a free item.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Bob's opportunity cost for producing one banana?

10 fish

1 fish

10 bananas

3 fish

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Ann's opportunity cost for producing one banana?

1 fish

10 bananas

3 fish

30 fish

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary benefit of specialization and trade for individuals like Ann and Bob?

It allows them to avoid all costs.

It ensures they produce only one type of good.

It leads to a better overall position than trying to do everything themselves.

It eliminates the need for time management.

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