Smart shopping and ways to pay quiz on module 2 and 3. Please make sure you read each question. There is only one correct answer per question. Terms in this set (10) opportunity cost. Find other quizzes for life skills and more on quizizz for free! Webstudy with quizlet and memorize flashcards containing terms like opportunity cost, need, want and more. Webselect the answer that best describes opportunity cost: The amount of money you put into savings every year. What you give up as a result of choosing one option versus another;. The cost for one unit of an item. Spending that is based on the purchase decisions you make. These can vary from month to month.