1. Opportunity cost is the most desirable alternative that you gave up as a result of a decision. Discuss two decisions in your life you recently made the opportunity cost of those decisions. Example: I recently decided to work late on school work. The opportunity cost of this decision was missing the Dodger game. Open assignment # 4 for a stamp. What will we learn today? What will we learn today? Standard 12.1.1 Examine the casual relationship between scarcity and the need for choices. Standard 12.1.2 Explain opportunity cost and the marginal benefit and marginal cost. What is Economics, Day 4 Week: What is Economics - Week 2 Directions: On Day 4 of your Bellwork, answer the following question. You need to write a one paragraph response, so fill out all of Day 4. There should be little to no talking during the Bellwork. 1

2. Family Man

3. Lets talk about homework. Take assignment #4 out and we will look at it. 3

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5. Assignment 5: 2-1 Guided Reading Read pages 23 – 27 and answer the guided reading questions in your notebook. Please write the question and answer.