WorksheetsCosts & Benefits Review
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
What is a cost?
a)
the item you receive after you pay
b)
giving up one thing for another
c)
the amount of money paid for something
2.
What is a benefit?
a)
the item you receive after you pay for it
b)
giving up one thing for another
c)
the amount of money paid for something
3.
Should the decision to buy something be made on cost alone?
a)
Yes
b)
No
4.
What is an example of a benefit?
a)
the capital resources a company has
b)
the cost of an item
c)
extra time you have when you buy a leaf blower
5.
What is a trade-off?
a)
the item you receive after you pay
b)
giving up one thing for another
c)
the amount of money paid for something
6.
You want to buy a new video game and a new pair of sneakers. You only have enough money to buy one of them. If you buy the video game, what is your trade-off?
a)
The money you spend on the video game
b)
The video game
c)
The sneakers
7.
What is an example of a cost?
a)
What you gain from buying a Transformer
b)
What you pay to buy some Shopkins
c)
How much you get for an allowance
8.
Which do people compare in order to make choices?
a)
Costs & Benefits
b)
Supply & Demand
c)
Buying & Selling
d)
Apples & Oranges
9.
Does it take a long time to save up for expensive things?
a)
Yes
b)
No
10.
Why might someone save up for an item?
a)
They have the money to buy it now
b)
It is expensive
c)
They don't like it
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