Opportunity cost

Opportunity Cost• Define values and be encouraged to make spending choices consistent with their own values.• Define opportunity cost and apply the concept to spending decisions.• Define delayed and instant gratification, and how each influences current and future spending choices and opportunities.• Correlate how the choices they make now affect future opportunities.

• Benefit • Money• Budget • Opportunity Cost• Choice • Save• Consumers • Savers• Costs • Saving• Decision Making • Savings• Interest • Wants• Interest Rate• Investing

Don’t Eat the Marshmellow

• develop a list of products or services that you currently buy, and place them on either the "In" or "Out" side. If it is on the "Out" side, that means that based on opportunity cost or their own values, they regret their original choice because they feel that their money could be best served elsewhere.

In Out

IRA Calculator link

ASSESSMENT ACTIVITY• Prepare a budget based on their own current allowance/compensation from part time jobs with three categories: "Saving," "Sharing," and "Spending."• Write a paragraph or two on their individual budget.• Identify why they made their saving/spending decisions and how it relates with their future plans.

Opportunity cost

by nlmrhistory on Jan 27, 2012

Accessibility

Categories

Tags

Upload Details

Usage Rights

1 Embed 5

Statistics

Opportunity cost — Presentation Transcript