Opportunity Cost

What is opportunity cost?

• Getting a new toy

• Giving up one thing for another

• Running out of money

• Selling lemonade drinks

Select true or false. When you give up on thing for another it is called services.

• true

• false

Sonny has to choose between playing with his race track or baking with his mom. He chooses to bake with his mom. What is his opportunity cost?

• Baking with his mom

• Going outside with a friend

• Playing with his race track

• Reading a book alone

Select true or false. Taya has to choose between eating blueberries or a banana. She chooses blueberries. Her opportunity cost is a banana.

• true

• false

Mack has to choose between watching TV or doing his homework after school. He chooses to do his homework. What is his opportunity cost?

• Doing his homework

• Eating a snack

• Running outside

• Watching TV