This is a question that Chicago Tribune columnist Gregory Karp asks in his latest column while giving the following quiz:
1. You desperately want a new baseball glove that costs $50 but you only have $30 saved. What should you do?
A) Wait until you save $20 more from weekly allowances.
B) Borrow money from your parents at 18 percent interest and buy it now.
C) Sell part of your Pokemon card collection on eBay for $20 and buy it now.
2. “Opportunity cost” refers to the chance to pay less.
True or false?
3. If your allowance is $5 a week, and you already have $150 saved, how many more weeks will it take to buy a $250 video game system?
A) 20 weeks
B) 15 weeks
C) It depends
4. At th