Activity 1.1 Opportunity cost (AO2, AO3, AO4) This … Unattainable. What is the difference between ... Base your answer only on the information above and on comparative-advantage considerations. Worksheet opportunity cost and comparative advantage answers. I decide to buy a baseball cap instead of a new DVD. Some of the worksheets displayed are Why it matters what is the real cost lesson overview, Name class date taken total possible marks 26, What is my opportunity cost work, Activity smartphones and tablet computers, Handouts a and b answer key, Lesson 1 production possibilities and opportunity cost, Opportunity costs … 2. Ppc practice answer key displaying top 8 worksheets found for this concept. Examples: • I have $15.00 to spend. Students read a … time, energy, risk, etc.) Opportunity Cost: What you give up when you have to make a choice between two things. Practice with Opportunity Cost Analysis. A total of 12 questions are included. 0 Computers. 1. Showing top 8 worksheets in the category - Opportunity Costs. Cleaning 4/3 Construct production possibilities curves using hypothetical data. This could be used as an exit ticket or homework assignment after a lesson or reading on scarcity and opportunity cost. (1 per student) Handout: Practice with opportunity cost analysis (1 per student) Overhead transparencies or power points slides: Visual 1: Characteristics of Cost. Discussion and application of … Visual 2: Discussion Questions: Choosing a Snack The DVD represents the opportunity cost. Then apply your knowledge to the Guiding Question: How does opportunity cost affect decision making? • A city government has $20,000 to Displaying top 8 worksheets found for - Opportunity Cost. What is Hannah’s opportunity cost of cleaning offices in terms of cleaning jail cells? 4 different types of candy, gum, or crackers, cookies, snacks etc. I use this as a basic introduction to the concepts of opportunity cost/benefit. International trade and comparative advantage. opportunity cost—choosing to do one thing prevents us from having the opportunity to do another. Opportunity Cost and Opportunity Benefit. Some of the worksheets for this concept are Name class date taken total possible marks 26, What is my opportunity cost work duplicate, What is my opportunity cost work, Why it matters what is the real cost lesson overview, Opportunity costs work, Activity smartphones and tablet computers, Comparative advantage ans key… Apply the concept of opportunity cost to a pro duction possibilities curve. The PPF can be used to calculate the opportunity cost of various production decisions. Worksheet – Opportunity Cost and Comparative Advantage Answers. ... B. 5.What can you say about point G? 4 Computer. Answer key is included. 4.The opportunity cost of moving from f to c is… 3.The opportunity cost of moving from d to b is… 7 Bikes. For example, given a set of scarce resources, in order to produce additional “butter,” a society has to give up the opportunity to produce some “guns.” Synonyms And Antonyms Worksheet With Answers Pdf, Balancing Word Chemical Equations Worksheet, Super Teachers Worksheets Com, Factor Each Completely Worksheet Answers, The Amazing Human Body Worksheet, Square Of Binomial Worksheet, Free Math Worksheets For High School Geometry, Adding And Subtracting Fractions Word Problems Worksheets 5th Grade, Geography Of Ancient Greece Worksheet… The opportunity cost of moving from a to b is… 1. Use complete sentences. Main Idea: A trade-off is the act of giving up one thing for another. Materials. 10 Who makes trade-offs? This is any point on the production possibilities curve. Sherilyn narker senior economic and financial education specialist federal reserve bank of atlanta this lesson also. The focus of the related worksheet is reinforcement to ensure students have understood the key points. It is key that the answers are discussed in class since these concepts are fundamental to any kind of economic reasoning. Most students think of "cost" in terms of money so this helps to introduce them to the other costs for decisions (i.e. 1 Opportunity Cost SECTION 2 As You Read Directions: As you read Section 2, answer the questions under each main idea below.

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