What is opportunity cost? I can define and explain opportunity cost.
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What is opportunity cost? I can define and explain opportunity cost.
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Transcript of What is opportunity cost? I can define and explain opportunity cost.
![Page 1: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/1.jpg)
What is opportunity cost?I can define and explain opportunity cost.
![Page 2: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/2.jpg)
wants
•Things that people desire, but DON’T have to have in order to live.
![Page 3: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/3.jpg)
needs
•Things you HAVE to have in order to live.
![Page 4: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/4.jpg)
opportunity cost
•Your opportunity cost is the thing you give up when you make a choice between two different things.
![Page 5: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/5.jpg)
Let’s read about opportunity cost!
![Page 6: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/6.jpg)
What would you choose?
Go to a Red’s game!A trip to the beach!
![Page 7: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/7.jpg)
What would you choose?
An Xbox One
A brand new treehouse
![Page 8: What is opportunity cost? I can define and explain opportunity cost.](https://reader036.fdocuments.in/reader036/viewer/2022081811/5697c0021a28abf838cc3569/html5/thumbnails/8.jpg)
What would you choose?
A pack of Air Heads A Hersey bar!