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81 resources with the concept opportunity cost

Lesson Planet

Savvy Spending: Sharpening Money Decisions

For Teachers 9th - 12th Standards
Do you really need that new laptop/phone/dress/jacket/etc.? Financial decisions require us to distinguish between our wants and our needs. Through discussion and the evaluation of scenarios on provided worksheets, this resource will...
6:56
Lesson Planet

EconMovies 7: Anchorman (Efficiency and Market Failures)

For Students 11th - 12th Standards
How can performing cannonballs into a swimming pool help us to understand the concept of marginal analysis and efficiency? Check out this video, using clips from the movie Anchorman and informative instruction, to learn more about...
Lesson Planet

2018 AP® Microeconomics Free-Response Questions

For Students 10th - 12th Standards
How much should Nirali study for her history and economics exams if she has a limited amount of time for both? Scholars consider opportunity cost in using this real-world scenario from College Board. Other questions include looking at a...
Lesson Planet

Christopher Columbus, Entrepreneur? Queen Isabella, Venture Capitalist?

For Students 6th - 8th Standards
What did it take to embark on a journey to unknown lands? Perhaps ambition, but also money! Christopher Columbus had to approach more than one European monarch for financing before he could sail the ocean blue. A read-along play and...
5:10
Lesson Planet

Episode 8, Segment 3: The PPF Illustrates the Law of Increasing Opportunity Cost

For Students 8th - Higher Ed Standards
What is the cost of doing business? Scholars employ the law of Increasing Opportunity Cost to understand how making one product often costs the production of another. To finish the lesson, scholars discuss the cost of success, along with...
5:13
Lesson Planet

Episode 8, Segment 1: The PPF Illustrates Scarcity and Opportunity Cost

For Students 8th - Higher Ed Standards
Decisions, decisions ... how do people make up their minds? Scholars research the concepts of scarcity and opportunity cost as they view a short video describing the basis behind making choices based off of availability and price....
Lesson Planet

Episode 19: Costs of Production and the Shutdown Decision

For Students 8th - Higher Ed Standards
The 19th podcast of a 21-part series on economics focuses on the costs of production when running a business. Historians analyze the difference between fixed, explicit, and implicit costs. They use mathematical equations to find total...
Lesson Planet

Episode 1: Opportunity Cost

For Students 8th - Higher Ed Standards
The concept of opportunity cost challenges historians to analyze how some choices come at a loss in the opening lesson of a 21-part economic series. Podcasts offer insight into the subject of what a decision costs the consumer....
Lesson Planet

Opportunity Cost

For Teachers 9th - 12th Standards
The price of those new shoes involves more than just money! Individuals explore the concept of opportunity cost using a video clip and gratification discussions. They prepare a budget based off of their set of values in regards to...
Lesson Planet

Specialization and the Decathlon

For Teachers 9th - 12th Standards
Michael Phelps, the economist? Scholars research the economic advantages of specializing in one kind of service, and how it relates to athletes doing the same in their respective sports. They evaluate absolute advantage, production, and...
Lesson Planet

Lesson 1: Katrina Strikes

For Students 7th - 12th Standards
Most families have an emergency kit in their home with flashlights, water, and extra food. But what happens to your money when disaster strikes? An economics lesson focused on the aftermath of Hurricane Katrina in 2005 demonstrates the...
11:09
Lesson Planet

Revenue, Profits, and Price

For Students 9th - 12th Standards
Economists and accountants work with money every day, but their perspectives about that money can be very different. An informative video from Crash Course Economics explores basic elements of microeconomics, including economies of...
12:08
Lesson Planet

Intro to Economics

For Students 9th - 12th Standards
There's an opportunity cost to everything you do, but it's minimal when you're learning about an applicable topic like economics. Join the Crash Course team as they introduce a 35-part video series on economics and briefly address some...
Lesson Planet

Economics: Market Surveys

For Teachers 4th - 5th Standards
Send your enthusiastic entrepreneurs' career sense into motion with a business-minded lesson plan. They review and dissect business plans before applying their findings to their own business venture. Scholars then identify whether or not...
Lesson Planet

Susan's Choice

For Teachers 2nd - 3rd Standards
Young economists explore opportunity cost by counting how much money Susan has in her piggy bank. From here, they are challenged to help Susan make a choice about what she can buy with her money. 
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Lesson Planet

Making Decisions

For Teachers 9th - 12th Standards
Money represents decisions: spending decisions, saving decisions, and investing decisions. Encourage young adults to think about the decisions they make with their money in a three-day unit about personal finance, consumer spending, and...
Lesson Planet

Something Special For Me

For Teachers 1st - 3rd Standards
People often save money, but what are the benefits and drawbacks of that action? Youngsters learn about saving, savings, and opportunity cost through the lens of a short book, called Something Special for Me.
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Glo Goes Shopping

For Teachers K - 3rd Standards
Making decisions can be very difficult. Show your class one way to evaluate choices with this lesson, which is inspired by the book Glo Goes Shopping. Learners practicing using a decision-making grid with the content of the story and a...
3:48
Lesson Planet

Economic Profit and Costs Review

For Students 11th - 12th Standards
What is the difference between the way an accountant calculates profit versus the way an economist calculates profit? Discover one take on the issue offered by Mr. Clifford, who reviews the concepts of explicit costs, implicit costs, and...
Lesson Planet

The Pickle Patch Bathtub

For Teachers 3rd - 5th Standards
What do your pupils want to save up their money for? Based around the book The Pickle Patch Bathtub, this lesson covers opportunity cost, saving, and spending. Learners participate in a discussion and practice making their own savings...
Lesson Planet

On the Court with... Michael Jordan

For Teachers 5th - 7th Standards
Pupils learn foundational economic concepts and consider the importance of decision-making, how to evaluate choices and alternatives, and the benefits of consistent training and practice by learning about the early life of Michael Jordan.
Lesson Planet

Beatrice’s Goat: A Lesson on Savings Goals

For Teachers 3rd - 5th Standards
Youngsters learn the meaning of saving and how to reach savings goals by first reading a story of a young Ugandan girl who is gifted a goat, and then discovering the opportunity costs of savings decisions made by her and her family.
4:10
Lesson Planet

Comparative Advantage: Econ Concepts in 60 Seconds

For Students 11th - 12th Standards
Walk your learners step-by-step through the process of creating a comparative advantage chart with a sample problem involving the production of cars and rice on a production possibilities curve.
3:18
Lesson Planet

Production Possibilities Curve and Opportunity Cost

For Students 11th - 12th Standards
What happens when the resources used as part of a production possibilities curve are not easily adaptable to produce both goods? Watch as an economics instructor uses an example of an economy producing pizzas and robots in order to...