Opportunity Cost

1. What does opportunity cost mean?________________________.

Read the clip below and write the answer.

2. If you went to the mall and saw a shirt and a pair of pants you want, but decided to buy the shirt. What would be your opportunity cost?_________________

3.You have a day off school and you can either go to the movies or the mall with your friends. You and your friends decide to go to the movies instead of going to the mall. What is the opportunity cost?________________

4.You just came in second place in the run-a-thon. You can pick one of the two prizes. Your choices are a gift certificate or a CD player. If you choose the CD player instead of the gift certificate which is the opportunity cost?_______________

Circle the opportunity costs.

5.You won first place in the annual swim meet! You can pick four prizes out of the seven.

1.cd player

2.five CDs of your choice

3.someone to clean your room for a year.

4.200.00 dollars

5.a year supply of any type of candy.

6.a person to drive you anywhere for a year.

7.five Nintendo games of your choice.

If you choose number 2,3,6,and7 which are the opportunity costs?_____________________________________