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TEACHING AND
LEARNING ELEMENTARY
AND BASIC ECONOMICS OPPORTUNITY COSTS WORKSHEET LESSON PLAN -
OPPORTUNITY COSTS |
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click to go to worksheet
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A worksheet lesson introducing students to the
basic economic concept of Opportunity Cost.
LESSON LEARNED
Opportunity Cost
Trade-Offs |
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OTHER SKILLS
REINFORCED
Basic Math
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TEACHING GRADES
4+
4th 5th 6th 7th Grade
Lesson is customizable for multiple
levels.
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Suggested Lesson Plan
for this Worksheet
Everything you do has an opportunity cost. Opportunity
cost is what is given up because you choose to do something else. For
example, if you want to go to the movies, the opportunity cost is you could have
instead spent your money on food, or saved it. Or, perhaps you could have spent
your time doing some other activity.
Have students fill in the following
worksheet. Compile a basic chart covering how much everyone spent in
aggregate. Then, have a discussion about what decisions were made.
Why were certain items chosen instead of others? What was the
opportunity cost of choosing to spend on certain items rather than others? What is
the opportunity cost of spending verse saving? What factors influenced
students' decisions?
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WORKSHEET Instructions
This worksheet is an introduction to
opportunity cost. In this activity, students are to
fill in the table with the number of items, and total cost of
items desired. In addition, money can also be saved.
The total should equal the amount at the bottom of the page, as
all money should be either spent or saved.
This is a random worksheet. You
may choose a standard worksheet or customize the worksheet to your
teaching needs. To customize the worksheet, you have several
choices (see below).
Make your selections, then press "Get
Worksheet". |
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WORKSHEET
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You may come back to these worksheet links more
than once if your
students are having trouble mastering this
concept, since
these are RANDOM worksheets. Every time you choose the
link (or press "refresh" on your browser) a NEW worksheet will be
generated.
Fourth Grade - Fifth Grade - Sixth Grade - Seventh Grade Economics Lesson - Primary Secondary Education - Adults - Special Education - Teens - Teenagers - Kids - Children
Opportunity Cost |
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