Money Masters Round 2

Opportunity Cost

100

 I have enough time to either play outside or watch TV after school. If I choose to play outside, what is my opportunity cost?

Watching TV

200

 You have $2 and you can buy either a juice box or a cookie, but not both. If you buy the juice box, what is your opportunity cost?

The cookie

300

You can read a book or do your math homework. If you decide to read the book, what is the opportunity cost?

Doing your math homework

400

You have one hour of free time. You choose to draw a picture. What is the opportunity cost?

The other thing you could have done in that hour (like playing a game or riding your bike)

500

Your friend invites you to play soccer, but you decide to practice piano instead. What is your opportunity cost?

Playing soccer with your friend

Counting Money

100

If you have 3 quarters, 2 dimes, and 1 nickel, how much money do you have?

 $1.00

200

 You have 4 one-dollar bills and 5 nickels. What is the total amount of money you have?

 $4.25

300

You want to buy a toy that costs $3.75. You have 3 dollars, 2 quarters, and 1 dime. Do you have enough money?

Yes

400

 If you have 7 dimes and 4 pennies, how much money do you have?

74 cents

500

 You want to buy a book that costs $5.40. You have 5 one-dollar bills and 3 dimes. Do you have enough money?

No

Making Change

100

 You buy a candy bar for 75 cents and pay with a $1 bill. How much change should you get back?

 25 cents

200

 A toy costs $2.50. You give the cashier $5.00. How much change will you receive?

 $2.50

300

 You buy a book for $4.20 and pay with a $10 bill. How much change should you get?

$5.80

400

 The total is $3.75. You pay with four $1 bills. How much change do you get back?

25 cents

500

 You buy snacks for $6.45 and pay with a $10 bill. How much change will you get?

 $3.55

Money Masters Vocabulary

100

 This is something you must have to live, like food or clothes. What is it?

 Need

200

 This is something you would like to have but can live without, like toys or candy. What is it?

Want

300

 This means the money you earn from working or other sources. What is it?

 Income

400

 This is a plan for how you will spend your money. What is it?

Budget

500

 This is what you give up when you choose one thing instead of another. What is it?

 Opportunity cost