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 spending, saving, and sharing the money that becomes available in a great life-skills instructional activity. 

Concepts

opportunity cost, personal finance, budgeting

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Additional Tags

social studies

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Instructional Ideas

• Present a classroom choice one must make (test vs. paper) and discuss the opportunity cost of both
• Create budgeting teams to assist students who may struggle with the concept

Classroom Considerations

• Keep in mind the sensitivity of what certain families in the classroom can or cannot afford

Pros

• The provided link to www.mint.com provides opportunity to set up lifelong budgeting for class
• Includes Roth IRA calculator link

Cons

• None

Common Core

RH.9-10.1 RH.9-10.2 RH.9-10.9 RH.11-12.1 RH.11-12.2 RH.11-12.7 RH.11-12.9 WHST.9-10.1.a WHST.9-10.8 WHST.9-10.9 WHST.11-12.1.a WHST.11-12.7 WHST.11-12.8 WHST.11-12.9