This lesson plan covers the National Content Standard 2: Marginal Decision Making. It provides key terms and concepts around scarcity forces, changing opportunity costs which affect incentives and choices. It includes links to a...

This lesson encourages students to define opportunity cost, determine the the opportunity cost and trade-offs for certain decisions, and select criteria important for decision making.

Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape...

The definition and examples of "opportunity cost."

Provides readers with a definition and explanation of the concept of opportunity cost. Gives great details and compares the term with similar concepts.

An introduction to the concepts of scarcity, choice, and opportunity cost.

In this lesson summary, review the key concepts, key terms, and key graphs for understanding opportunity cost and the production possibilities curve.

This description explains the concept of opportunity cost and gives examples.

In this activity, learners will learn about choices and opportunity costs that occur every day. While this activity will go on throughout the day, the actual activity is short.

Find out what the definition of a cost and a benefit is in terms of the economy when using this site. "When making a decision, students should consider the costs and the benefits of that decision."

This article provides a thorough examination of comparative advantage, absolute advantage, and opportunity cost, and how these three terms are related.

Provides a clear explanation of opportunity cost in a way that is accessible to those new to economics. Includes links to terms that may require further clarification.

This activity provides a fun way to explore concept of economic decision making. In the lesson, students are given a limited number of "tokens" and asked to exchange those tokens for goods in preparation for pioneering in a new land....

All resources are limited. It is this simple fact--scarcity--that forces us to make decisions. When we do make a choice, we pass up some other opportunity. Opportunity cost is defined as the next best alternative not chosen, or the...

This on-line encyclopedia provides the definition of the economic acronym "TANSTAAFL," which is a way to explain opportunity cost.

Students will define opportunity cost as they list various career choices and salaries, and calculate future value of money.

This lesson analyzes the costs and benefits of homeownership and asks the student to describe the factors that affect affordability, use cost-benefit analysis and knowledge of home-buying procedures to reduce the costs, analyze the...

In reading and discussing Lyddie, by Katherine Paterson, students examine basic economic concepts and explore the growth of labor unions and the role of government in a market economy.

Economic concepts are often found in places students have never considered, like children's literature. In this lesson, students will explore the various economic concepts addressed in five of Dr. Seuss' most popular books: The Cat in...

Economics learning module on international trade and currency. Unit includes multi-media resources, assignments, projects and tests.

Great interactive baseball game that combines your knowledge of economics and pro sports trivia. After completing the nine innings, you should have a better understanding of how economics is used in everyday life.

This resource provides a good example of the differences between explicit costs and implicit costs using the ownership of a pizza restaurant as an example.

An introduction to basic concepts in beginning economics.

In the first part of the lesson, students examine the incentives and opportunity costs of spending and saving in a teacher directed lesson. The remainder of the lesson is an interactive website. Students work through problems that...