Opportunity Cost
4 years ago
eslavery
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7 QuestionsShow answers
  • Question 1
    30 seconds
    Q. What is scarcity? 
    answer choices
    Having too many resources 
    Not  having enough resources 
  • Question 2
    30 seconds
    Q. What is opportunity cost? 
    answer choices
    your choice
    what I give up to make a choice 
  • Question 3
    60 seconds
    Q. 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?
    answer choices
    muffins 
    cookies 
  • Question 4
    60 seconds
    Q. 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?
    answer choices
    vacation 
    swimming pool 
  • Question 5
    60 seconds
    Q. Emelia has been invited to a sleep over at Chloe’s house for this Saturday.  Emelia has tickets to see her favorite band in concert that same night.  She decides to give the tickets to her sister and go to Chloe’s house.  What is the opportunity cost of her decision?
    answer choices
    seeing her favorite band 
    spending time at a friends house 
  • Question 6
    60 seconds
    Q. Max is studying for his spelling test.  Unfortunately, his favorite TV program is on right now.  If he studies for the test, he will miss watching the show.  Max decides to study for his test instead of watching TV.  What is the opportunity cost of his decision?
    answer choices
    studying for a test
    watching TV 
  • Question 7
    60 seconds
    Q. The local government for a community must decide what to do with the sales tax collected.  They could build a new skate park or they could buy more computers for the public library.  The officials decide to build a skate park.  What is the opportunity cost of their decision?
    answer choices
    new skate park
    more computers 
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