What is opportunity cost? I can define and explain opportunity cost.

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Presentation transcript:

What is opportunity cost? I can define and explain opportunity cost.

wants Things that people desire, but DON’T have to have in order to live.

needs Things you HAVE to have in order to live.

opportunity cost Your opportunity cost is the thing you give up when you make a choice between two different things.

Let’s read about opportunity cost!

What would you choose? Go to a Red’s game! A trip to the beach!

What would you choose? An Xbox One A brand new treehouse

What would you choose? A pack of Air HeadsA Hersey bar!