Unit 1 Day 7

Open Your Notebooks• Also:• Think of a possible opportunity cost of having

a child.• What would you have to give up if you had a

child?• Don’t

– share with your neighbors; think of your own!– say money or time. Money for what?? Time for

what??

Opportunity cost of children.

1st PeriodChad Seth Danielle

Zack Michael Baggott

Kyle Kendall Matth Nicole Arron

Hillary Michael Brannen

Shannon Lacey Haley Virginia Brandon

Teacher Desk/ Work Area

Erin Morgan Taylor

2nd PeriodMegan Justin Xavier Andrew

Paige Cyndilee Chris Charlee Ryan Stacey

Amanda Chelsea Brett Jessica Tim Courtney Kylie

Teacher Desk/ Work Area

Forrest Lacey Alison Haley Jordan Avery

Daniel Morgan Emily Alex

4th PeriodDee Dee Moriah Kristen Kayla Jade (Empty)

Drew Steven Kara Amber Bethany (Empty) Kevin

Harley JD Courtney

Nick Sonia David Melissa

Teacher Desk/ Work Area

Jordan Edwards

Jonathan

Jordan Marin

Andre’ Mandie Lauren

Kayla Daylan Catherine Phillip Justin

Raven Ryne Maggie Kelsea

Opportunity Cost/PPF Review

Write This In Your Notes:• Trade-offs = all the choices

• Opportunity cost = cost of best alternative given up.

Trade-offs

OR

Opportunity Cost

Lebron

Duke or the NBA?

Marker Board Assignment

• 1) Draw a PPF using the information above. Label each point.

• 2) What is the opportunity cost of moving from Point C to Point D?

• 3) Say this country is producing at Point B. What is the opportunity cost of moving to Point E?

Poetry and Songs

Clicker Quiz

As A Class

1) What is USA’s opportunity cost of making 1 bushel of wheat?

• A) 3 wheat

• B) 1/3 wheat

• C) 3 computers

• D) 1/3 computer

1000 200

Kenya

1500 500

USA

Wheat

(bushels)

ComputersMaximum that can be produced of each.

2) What is Crusoe’s opportunity cost of 4 fish?

• A) 4 coconuts• B) 8 coconuts• C) 1/2 coconut• D) 2 coconuts

3) What is Crusoe’s opportunity cost of 2 fish?

• A) 4 coconuts• B) 8 coconuts• C) 1/2 coconut• D) 2 coconuts

4) What is Crusoe’s opportunity cost of 1 fish?

• A) 4 coconuts• B) 8 coconuts• C) 1/2 coconut• D) 2 coconuts

5) What is Crusoe’s opportunity cost of 4 coconuts?

• A) 4 fish• B) 8 fish• C) 1/2 fish• D) 2 fish

6) What is Crusoe’s opportunity cost of coconuts?

• A) 4 fish• B) 8 fish• C) 1/2 fish• D) 2 fish

7) What is the opportunity cost of one pie?

• A) 0.5 cakes B) 1 cake

• C) 2 cakes D) 3 cakes

8) What is the opportunity cost of ten pies?

• A) 5 cakes B) 1 cake

• C) 2 cakes D) 3 cakes

9) What is the opportunity cost of two pies?

• A) 5 cakes B) 1 cake

• C) 2 cakes D) 3 cakes

10) What is the opportunity cost of cake?

• A) 0.5 pies B) 1 pie

• C) 2 pies D) 3 pies

Opportunity Cost

In Different Regions.

Corn and Oranges.

Felp and Bort.

Worksheet

Should be completed by each student.

You may work on this with your partner.