What is opportunity cost?
Opportunity Cost
Quiz
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Other
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3rd Grade
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1K plays
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Easy
Student preview
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
your choice
what you give up to make a choice
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is scarcity?
Having too many resources
Not having enough resources
3.
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
4.
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
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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?
seeing her favorite band
spending time at a friends house
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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?
studying for a test
watching TV
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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?
new skate park
more computers
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