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Costs & Benefits Lesson PlanCosts & Benefits Lesson Plan
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Lesson Plan

Costs & Benefits

Curated and Reviewed by Lesson Planet

Students reinforce the concept of the true costs being what is given up by doing something -- normally referred to as opportunity costs.

3 Views 2 Downloads
Concepts

opportunity cost

Additional Tags

opportunity cost, social studies
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Resource Details

Grade
10th - 11th
Subjects
Social Studies & History
2 more...
Resource Type
Lesson Plans
Audience
For Teacher Use

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Finra Investor Education Foundation: Opportunity Costs

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This lesson plan introduces the concept of opportunity costs. Show students there is always a price paid when choices are made.
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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...
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Production Possibilities Curve and Opportunity Cost

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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...
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Economic Profit and Costs Review

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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...
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EconMovies 7: Anchorman (Efficiency and Market Failures)

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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...
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Lesson Plan

Opportunity Cost

Council for Economic Education
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...
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Podcast

Episode 1: Opportunity Cost

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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....
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Instructional Video

Khan Academy: Opportunity Cost

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Opportunity cost is the value of something given up to obtain something else. In this video [5:48], we explore the definition of opportunity cost, how to calculate opportunity cost, and how the PPC illustrates opportunity cost.
9th - 10th Social Studies & History
Activity

Opportunity Cost

Other
This site provides a definition, examples, and applications for the concept of "opportunity cost."
9th - 10th Social Studies & History
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