Alex is studying for his math quiz, but his favorite TV show just started. If he studies for the quiz, he will miss out on watching the show. Alex decides not to watch the show and continue studying for the quiz. What is the opportunity cost of his decision?

Which of these is NOT an example of a need?

Amber was shopping at the mall. She had $80 to spend. She found three items she liked: $75 for a pair of shoes, $70 for a jacket, and $62 for a dress. After shopping for a couple hours, she decided to borrow a pair of shoes from her cousin and to buy the jacket for $70. What was her opportunity cost?

Tom was shopping for a car. He has looked at a Ford, Honda, Toyota, and Dodge. After a lot of debate, he narrowed it down to either the Ford or the Honda. He selected the Ford, because he liked the interior a little better. What was his opportunity cost?

I have a class of 25 students that need to type a paper, but I only have 10 computers available for them to use. This could be considered a surplus of computers.

Steve decided to buy the brand new iPhone that just came out instead of putting money aside for a vacation next summer. This is known as saving.

You are having a difficult time deciding if you should spend your money on tickets to see a new movie or going bowling with your friend. You decide to go to the movies, so bowling with your friend would be considered an opportunity cost.

How much of something that is available is ______________.

Coins or dollars that are used to buy a good or service is called _____________.

To control the amount of something that people are allowed to have, especially when there is not enough is known as _____________.

A _____________ is something you would like to have, but it is not required to live.

There are 18 students that want to use blue poster board for their project, but there are only 6 pieces of blue poster board available. We could state that there is a _____________ for blue poster board.

A ____________ is a good thing that occurs as a result of something else.

I should ration the water bottles, and only let each person have one, since I have more than enough for everybody.