Opportunity Cost Assignment Name:___________
Opportunity Cost Assignment Name:___________
1. In your own words explain opportunity cost. Create your own example to support your explanation.
2. Does money have to be involved when you talk about opportunity cost? Why or why not?
3. For each of the examples explain the opportunity costs for each decision:
A. You want a car but in order to have one you must work a part-time job Saturdays and Sundays to pay for the vehicle. What are your opportunity costs for:
1. getting the car
2. taking the bus
B. Fresh out of high school you take a year off school and work a minimum wage job. What are your opportunity costs?
C. Furthering your education as opposed to moving into your own apartment.
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