Economics

Unit 1 | Topic 1.2 | Opportunity Cost and Trade-Offs

How does opportunity cost affect decision making?

Objectives

• Explain why every decision involves trade-offs.

• Summarize the concept of opportunity cost.

• Describe how people make decisions by thinking at the margin.

Procedure

1. Review the Aim and notes from your initial text read.

2. Participate in the corresponding lesson topic presentation, revising notes.

3. Watch corresponding video(s); further revising notes.

4. Complete teacher instructed assignments.

Extension

• Prepare for your next class session by reading the next topic section in your text, recording alphanumeric/Cornell notes.

• Complete the next topic's Interactive Reading Notepad.