Costs and Benefits

What are costs?

• Price of something

• Time of something

• Worth of something

• Hapiness of someone

What is a benefit?

• Something a person receives from the good

• Something bad

• No use

• I do not know

Costs are not only money. What is another cost?

• Dinner

• Time

• Work

• The moon

What is opportunity cost?

• The thing you missed out on.

• The price of something

• The good in something

• The chance to sing

A student had 2 things to do in the weekend but they were both on the same day at the same time. A friends birthday and a football game. He chose to go to his friends birthday so she does not feel bad.

What was the opportunity cost?

• The birthday

• The football game

• None

• I do not know