Conditional Remix & Share Permitted
CC BY-NC
This activity involves four scenarios where the students will uncover the opportunity costs for each scenario (every decision involves a trade-off). The opportunity cost is the profit lost (or total cost- financial and non-financial costs) when one alternative is chosen over another. A trade-off is understanding that you are going to lose something, in relation to time, money, or energy, when the decision to choose something else is made. When you buy or do one thing with your money, you must give up the chance to buy or do something else. This is a trade-off: what you give up to get what you want. When you spend part of your income on certain things, you give up spending it on other things.
- Subject:
- Financial Literacy
- Material Type:
- Activity/Lab
- Assessment
- Homework/Assignment
- Author:
- Cindy Lowe
- Date Added:
- 03/06/2024
