Opportunity Cost real teen scenarios

This lesson comes with the google link to a slideshow with notes and a worksheet. Slide show has video's that help students understand the concepts and a fun template.

The activity can be used as a worksheet or a simple partner worksheet. My class works on this in a group of 4 where each student decides an option then as a group they come up with the alternatives and the analysis together. The last question they do together and discuss what the options can lead to. Either way this is a good way to help students understand the basics of opportunity cost.

This lesson is very subjective in opinions and answers but it's important to specify that the next best choice is opportunity cost, and any other choices are tradeoffs.

Objectives Students will • recognize the need to make economic choices. • understand that scarcity makes economic choices necessary. • understand opportunity cost as the cost of making a choice.