Why do we have to make choices when spending money?
Second Grade Personal Finance Quiz

Quiz
•
Social Studies
•
2nd Grade
•
Easy

Donna Locke
Used 372+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
We have too much money to spend.
We cannot have everything we want.
We do not want to miss out on anything.
2.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Patrick chose a red pencil instead of a blue pencil.
Which pencil is the opportunity cost?
Both pencils
The red pencil
The blue pencil
Answer explanation
The opportunity cost is the item that you DO NOT CHOOSE. What will you miss out by not choosing that item?
3.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Maurice’s mom made a cake for his class to celebrate his birthday. Every student was given a piece of cake. What type of allocation did Maurice’s mom use?
Price
Contest
Sharing
4.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
What does it mean to “barter” with a friend?
To trade with your friend
To sell something to your friend
To buy something from your friend
Answer explanation
Bartering is when you trade a good or a service with another person, without paying with money. Y
5.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
What is one benefit to using money instead of bartering?
Money is used by everyone to buy goods.
Money is hard to use to buy goods.
Money is hard to find.
Answer explanation
Money is easier to use than bartering because it is easily available and everyone uses money today.
6.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
What is one benefit of spending money?
It is fun to buy new things.
It is boring to buy new things.
It takes a long time to spend money.
7.
MULTIPLE CHOICE QUESTION
5 mins • 5 pts
Which is another benefit of spending money?
Having less money to spend
Not buying something for yourself
Making someone happy by buying them a gift
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