Lesson Plan

Opportunity Cost

Curated and Reviewed by Lesson Planet

The price of those new shoes involves more than just money! Individuals explore the concept of opportunity cost using a video clip and gratification discussions. They prepare a budget based off of their set of values in regards to spending, saving, and sharing the money that becomes available in a great life-skills instructional activity. 

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CCSS: Designed
Instructional Ideas
  • Present a classroom choice one must make (test vs. paper) and discuss the opportunity cost of both
  • Create budgeting teams to assist students who may struggle with the concept
Classroom Considerations
  • Keep in mind the sensitivity of what certain families in the classroom can or cannot afford
  • The provided link to www.mint.com provides opportunity to set up lifelong budgeting for class
  • Includes Roth IRA calculator link
  • None