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Economics Lesson: Opportuninty Cost and Decision Making
$3.00
This lesson reviews the concept of scarcity and introduces the idea of opportunity cost in decision making. This is a foundational concept of Ecnomics and is meant to lay groundwork for a course.
The lesson includes notes, an activity to demonstrate the concept of opportunity cost, a video of Milton Friedman introducing the concept of "There's No Such Thing as a Free Lunch" for discussion. This lesson can be paried with the "Opportunity Cost Opinion Piece" assignment.
Writing Activity: Opportunity Cost Opinion Piece
$1.00
This assignment can be used to help students explore the concept of Opportunity Cost. Students are asked to read an opinion piece on government spending that relates to the concept of opportunity cost. The assignment asks students to respond to the author with their thoughts/opinions. This can be used as a homework assignment to review a lesson or as a discussion tool in class.
Details
Grade
9th, 10th, 11th, 12th
Resource Type
Activities, Assignments, Lectures
Pages
13 Pages
Product
Digital
Subject
Economics, Macroeconomics, Other
Languages
English
Standard
Not standard specific
Description
Lesson provides discussion questions, notes, videos and writing exercise to introduce students to the concept of Opportunity Cost. This full lesson can be used as a foundational lesson to the study of Economics.
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