Name____________________
Economics: Practice With Opportunity Cost
1. Consider 3 of your recent decisions. What was your o...
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Opportunity cost worksheet 2014

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Transcript of "Opportunity cost worksheet 2014"

  1. 1. Name____________________ Economics: Practice With Opportunity Cost 1. Consider 3 of your recent decisions. What was your opportunity cost for each choice and why did you choose the way you did? 2. Consider 1 future decision. What is your opportunity cost of that choice, explain. 3. What opportunity cost choices does the US government face? Directions: Use the concept of opportunity cost to explain the following behaviors. 4. Why would a student choose not to study for an exam even though she knows from past experience that she performs better on exams when she has spent time studying? 5. Why would a teenager not ask a person on a date to the movies, even if they knew the person did not have a date? (HINT: the answer isn’t fear of rejection) 6. Why would a hot dog vendor on a Tucson street corner lower the price of dogs late in the day? (HINT: consider what would happen if the hotdogs don’t sell) 7. Why do Americans today find themselves much more pressed for time than their great-grandparents were, despite the fact that we have so many machines and appliances that save us labor and time? 8. Why would a poor family in a developing country choose to send a 10 year-old to work in a factory rather than to school, even though they know that being able to read and write would offer the child better options for the future?

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