Opportunity Cost and Opportunity Benefit. I use this as a basic introduction to the concepts of opportunity cost/benefit. Most students think of "cost" in terms of money so this helps to introduce them to the other costs for decisions (i.e. time, energy, risk, etc.) Students read a short scenario about having the opportunity to buy fruit from Mr. Morgan's fruit stand with a limited amount of money to better understand the different types of costs that go along with the benefit of getting a piece of fruit. Students are then asked to look at four examples that don't involve money and identify some costs involved with the decision as well as the benefits of the decision from each opportunity. Students are then asked to do some writing to come up with examples of their own regarding the four types of opportunity cost/benefit situations a person can be in.
An answer key is not provided for this activity because the answers will vary based on each student's interpretation of each scenario.
For a great deal on 5 Economics products check out this bundle!
The Economics of Checks, Budgets, Stocks, College, and Savings - 5 Activities!
Here's even MORE Economics products:
Career Research Packet
Economics Bundle Pack - Stocks, Cost/Benefit, & 2 Invention Projects
Famous Inventors and Their Inventions Presentation
The Cause and Effect of the Greatest Events or Inventions from 1950-1999 Project
Connect with Surviving Social Studies...
Be sure to follow my TpT store by clicking on the ‘Follow Me’ next to my logo to receive notifications of new products and upcoming sales.
Follow my Blog
for updates, freebies, and general educational interests
Follow me on Pinterest
Thanks for stopping by!
Surviving Social Studies
Copyright ©Surviving Social Studies. All rights reserved by author. This product is to be used by the original downloader only. Copying for more than one teacher, classroom, department, school, or school system is prohibited. This product may not be distributed or displayed digitally for public view. Failure to comply is a copyright infringement and a violation of the Digital Millennium Copyright Act (DMCA). Clipart and elements found in this PDF are copyrighted and cannot be extracted and used outside of this file without permission or license. Intended for classroom and personal use ONLY.