Decision-Making Vocabulary

You take a chance and buy a lottery ticket. The possibility that you'll lose your money is called:

• An alternative

• A consequence

• A risk

• An opportunity

There are several different ways you could solve a problem. Your choices are called:

• Alternatives

• Consequences

• Risks

• Opportunity Costs

Whenever you make a decision, you have to be willing to accept the results. The results of your actions are called:

• Alternatives

• Consequences

• Risks

• Opportunity Costs

You give up something because you want something else more. What you give up is called:

• An alternative

• A consequence

• A risk

• An opportunity cost

Joe forgot to mail in his car payment on time. As a result, he has to pay a late fee. This late fee is:

• An alternative

• A consequence

• A risk

• An opportunity cost

Sarah decides to watch a movie instead of doing her math homework. What are some possible consequences of her decision?