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FutureSmart Smart Shopping

Quiz by Amy Sohaey

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8 questions
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  • Q1
    Which of the following situations best describes an opportunity cost?
    You save money by purchasing an item that is on sale.
    You decide to go to a concert instead of a baseball game.
    You use birthday money to go to the movie with friends.
    You decide to pay your credit card bill online.
    20s
  • Q2
    Which of the following expenses should be included in a typical budget?
    charitable giving
    savings
    All of them
    taxes
    20s
  • Q3
    Which of the following is considered a "want" for most people?
    a brand-name jacket
    transportation to get to work
    nutritious food
    a place to live
    20s
  • Q4
    If you know the unit price of an item, you are better able to:
    compare prices of 2 brands
    determine the total cost of the purchase
    estimate how much you will need
    figure out the discount during a sale
    20s
  • Q5
    Which of the following is the best example of a fixed expense?
    your cost of going out to eat with friends
    your credit card payment
    your rent payment
    your cost of groceries
    20s
  • Q6
    Which of the following is NOT an example of a variable expense?
    your rent payment
    your cost of groceries
    your credit card payment
    your cost of going out to eat with friends
    20s
  • Q7
    When deciding between 2 items, what should your take into consideration?
    all of them
    the unit price
    the quality of the product
    any available discount
    20s
  • Q8
    You have saved $50 and choose to spend it redecorating your room. The opportunity cost of this decision is:
    the $50 you spent on redecorating
    the other items you could have purchased with your $50
    the sleep you lost by choosing to redecorate
    the time you could have spent doing other things
    20s

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