Opportunity Cost Quiz 8 (10 MCQs)

Quiz Instructions:

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1. Why does almost every economic choice made have an opportunity cost?

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

3. Which of the following is an opportunity cost of using farmland for grazing animals?

4. I have a class of 25 students that need to type a paper, but I only have 15 chromebooks available for them to use. This is an example of:

5. Scarcity requires that individuals must _____

6. Basic requirement for survival

7. The number one thing that is given up in order to do something else is referred to as the _____

8. All the things we sacrifice to obtain another?

9. William wanted to go to the beach and did not want to pay his rent, the following would be an example of

10. Roberto went to the store to buy soda and chips. He decided to buy only chips. What was the opportunity cost?