Opportunity Cost and Specialization

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The CHOICE of or decision among alternatives or possibilities is called-

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economic choice

Front

What was Julia's opportunity cost when she decided to buy the video game instead of the toy?

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toy

Front

What was the opportunity cost when Roberto decided to buy only chips instead of soda?

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soda

Front

At the store a boy is trying to decide if he wants to spend his money on a new jacket or a pair of cool boots. This is an example of-

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economic choice

Front

A girl can't buy both a party dress and a new pair of shoes. She decides to buy just the dress. What are the shoes?

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opportunity cost

Front

The Candy Cane Company focuses on making only one product. This is called-

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specialization

Front

Why do people trade?

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to get things they need and want but do not have

Front

All of the following are ways to pay someone EXCEPT- trade, money, read, taxes

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read

Front

What is an example of specialization?

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Selling the best pizza at Pizza Hut

Front

What good does Toys R Us specialize in?

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toys