Select the answer that best describes opportunity cost:
EVERFI Future Smarts: Smart Shopping

Quiz
•
Specialty
•
7th - 8th Grade
•
Hard
Marge Melfi
Used 2K+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a. The amount of money you put into savings every year.
. What you give up as a result of choosing one option versus another; a trade-off.
The amount of money a business makes every year from sales.
What you gain as a result of choosing one option versus another; a benefit.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Before buying a new computer, you want to do some research to help you select the best model for your needs. Where should you look for the most objective and unbiased information?
The most popular computer company's website
Paid advertisements in a technology magazine
A salesperson at an electronics store who earns commission on sales
An independent consumer education website that reviews and rates technology products
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following expenses should be included in a typical budget?
taxes
charitable giving - charities
savings
All of the expenses should be included in a typical budget
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would be considered a want for most people?
A brand-name jacket
Transportation to get to work
A place to live
Nutritious food
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you know the unit price of an item, you are better able to:
Compare prices of two brands
Estimate how much you will need
Determine the total cost of the purchase
Figure out the discount during a sale
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would be considered a want rather than a need for most people?
Warm clothes in the winter
a place to live
a smartphone
nutritional food
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the answer that best describes what an opportunity cost is:
. The amount of money you put into savings each year
The trade-off of making one choice and giving up a different choice
The amount of money a business makes every year from sales
The benefit you gain by choosing one option versus another
Create a free account and access millions of resources
Similar Resources on Wayground
10 questions
SRMD Odoo ERP 1

Quiz
•
KG - Professional Dev...
19 questions
Accounting 1 - Ch. 6 Review

Quiz
•
KG - University
10 questions
Fishing Reels: A Guide to Choosing the Right One

Quiz
•
8th Grade - University
15 questions
Basic Entrepreneurship Vocabulary

Quiz
•
7th Grade
15 questions
Dewey Decimal

Quiz
•
6th - 8th Grade
10 questions
Credit and Debit Cards

Quiz
•
8th - 12th Grade
10 questions
Budgeting Math

Quiz
•
6th - 8th Grade
9 questions
Budgeting Math

Quiz
•
6th - 8th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade