cost and benefits
Authored by QUIZ TIME
Instructional Technology, Philosophy, Social Studies
3rd - 4th Grade
Used 242+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a cost?
the item you receive after you pay
giving up one thing for another
the amount of money paid for something
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit?
the item you receive after you pay for it
giving up one thing for another
the amount of money paid for something
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which do people compare in order to make choices?
Costs & Benefits
Supply & Demand
Buying & Selling
Apples & Oranges
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is opportunity cost?
your choice
what you give up to make a choice
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity?
Having too many resources
Not having enough resources
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A popular bakery has only a few ingredients left to make their products. They could bake muffins or cookies, but they can’t make both. The bakers decide to make cookies for their customers. What is the opportunity cost of their decision?
muffins
cookies
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The Welch family has saved some money. They can spend it on a vacation to the Grand Canyon or build a swimming pool in their back yard. They decide to spend the money on a swimming pool. What is the opportunity cost of their decision?
vacation
swimming pool
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