Financial Choices and Tradeoffs

Financial Choices and Tradeoffs

7th - 12th Grade

10 Qs

quiz-placeholder

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Financial Choices and Tradeoffs

Financial Choices and Tradeoffs

Assessment

Quiz

Social Studies

7th - 12th Grade

Hard

Created by

Charles Martinez

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In Economics, Trade-off and Opportunity Cost mean the same thing.

True!

False!

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should be the most important factor considered when you make a decision?

the Trade-offs

the Opportunity Cost

the lost opportunities

the opinions of others

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Because of scarcity, people are forced to make _________ about how to use resources.

Choices

Opportunities

Analyses

Investments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Trade-off is

a purchase in a marketplace.

an alternative that we sacrifice when we make a decision.

any good or service a consumer needs.

a factor of production.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most basic problem of economics?

scarcity

productivity

money

resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of money and how to get rich.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of people and how they make decisions.

True

False

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