Opportunity Cost

Mr. Owens eats at an expensive Italian restaurant. What is the opportunity cost of his decision?

• The food he orders

• The dessert he orders

• The money he paid for the meal

• The table he sat at in the restaurant

Mr. Lane goes running at 5 AM every day. What is his opportunity cost?

• The miles he runs

• The suntan he gets while running

• The blisters he gets on his feet

• The extra sleep he loses

What is an example of a land resource?

• Oil

• A farmer

• A factory

• A lumberjack

What is an example of a labor resource?

• Oil

• Farmer

• Corn

• Factory

What is an example of a capital resource?

• Oil

• Farmer

• Corn

• Factory