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OPPORTUNITY COST

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Students will define scarcity and opportunity cost. Students will identify the opportunity cost in various scenarios.

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À propos de Test
economics
opportunity cost
scarcity
 Âge recommandé: 17 ans
28 fois fait

Créé par

rachelle diesta
rachelle diesta
Indonesia
Ce jeu est une version de
OPPORTUNITY COST

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Students will define scarcity and opportunity cost. Students will identify the opportunity cost in various scenarios.

par rachelle diesta
1

A popular bakery has only a few ingredients left to make their product. 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?

2

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 backyard. They decide to spend the money on a swimming pool. What is the opportunity cost of their decision?

3

Emelia has been invited to a sleepover at Cloe’s house for this Saturday. Emelia has tickets to see her favourite band in concert the 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?

4

Which of the following is an opportunity cost of using farmland to allow animals to graze?

5

Which of the following is an example of opportunity cost as applied to consumers?

6

Which of the following is NOT a decision made by producers?

7

Why must a government consider the opportunity cost of spending decisions?

 
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