Font size
WorksheetsSS2E1
Total questions: 10
Worksheet time: 6mins
What is opportunity cost?
your choice
what you give up when making a choice
What is scarcity?
having too much of a resource
not having enough of a resource
A consumer is ____.
someone who pays for goods and services
someone who provides goods and services
A producer is ___.
someone who uses a good or receives a service
someone who provides a good or service
Because of scarcity, we must make (a) .
I have enough money to buy a Snicker or a Hershey bar. I chose a Snicker bar. My opportunity cost is the ____.
Hershey
Snicker
I have enough money to buy an orange or an apple. I bought the apple. What is the opportunity cost?
orange
apple
John is going to the store to buy groceries. John is a ___.
consumer
producer
opportunity cost
economic choice
Sally owns a store. She sells fresh produce and juice. Sally is a _____.
producer
consumer
opportunity cost
economic choice
