5
QuizMultiple Choice

Opportunity Cost — Quiz

Question 5 • Personal Finance

When people make an economic choice, they

Answer
A
decide how to use their resources to fulfill a want or need.
B
think about where they can borrow money that they need.
C
determine how much money they need to earn at their job.
D
figure out what they need to do to pay their bills on time.

Explanation

An economic choice is a decision about how to use limited resources, such as time, money, or materials, to satisfy a want or need. That matches choice A. Borrowing money, earning a certain amount, or paying bills may be part of some decisions, but they do not define economic choice in general.

AI-written and checked against the verified answer.

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