Value of Money
What is the value of a set of coins with 1 nickel, 1 dime, and 1 dollar?
$1.15
False
Give an example of a want.
Answers may vary.
Which has a higher value: 5 nickels versus a quarter?
They have the same value
Define an opportunity cost.
Something you give up to get something else.
What is the value of a set of coins with three pennies, 5 nickels, 3 dimes, and 2 dollar bills?
$2.58
True or false: Clothing is want.
False
Are new clothes a want or a need?
Answers may vary, it depends on how the student argues their answer.
Which has a higher value: three nickels, 2 quarters, and a dime or 38 pennies?
Three nickels, 2 quarters, and a dime
Give an example of an opportunity cost in the story.
Answers may vary.
What is the value of 4 quarters, 10 dimes, 20 nickels, and 100 pennies?
$4.00
True or false: Candy is a need.
False
A want
Which has a lower value: a 5 dollar bill or 3 dollar bills, 4 quarters, 10 dimes, and 36 pennies?
5 dollar bill
Give an example of an opportunity cost in your life.
Answers may vary.
What is the value of 3 dimes, 18 pennies, and 6 nickels?
$0.78
True or false: Healthy food to eat is a need.
True
Give some of examples of 4 different wants.
Answers may vary.
Which has a lower value: $2.36 or 7 quarters, 3 dimes, 4 nickels, and 2 pennies
7 quarters, 3 dimes, 4 nickels, and 2 pennies
Answers may vary
What is the value of 9 pennies, 3 nickels, and 2 quarters?
$0.74
True or false: Air, shelter, food, water, and clothing are all needs.
True
Compare the difference between a want versus a need.
Answers may vary.
Which has a higher value: $3.33 or 20 nickels, 10 quarters, and 5 dimes?
20 nickels, 10 quarters, and 5 dimes
How can you use a cost benefit analysis to help you measure opportunity cost?
Answers may vary