Trade-offs and what cost?
Ugh! The Business and Economics curriculum is loaded with weird terms and complicated concepts. But it doesn’t have to be.
You don’t have to work on Wall Street to teach your students about Trade-Offs and Opportunity Cost. You need this ready to go resource pack.
Your students will become experts in:
- Understanding why we make decisions and the consequences of those decisions
- How our choices impact our lives and the wider community
- Identifying a trade-off and why there is always one for every decision we make
- Describing real-life examples of opportunity cost
You know they learn better when they can make real-life connections. Well, the following activities do that:
- What is a Trade-off? Foldable activity
- What is Opportunity Cost? Foldable activity
- Understanding Trade-offs and Opportunity Cost worksheets/quiz
- What about Businesses? Puzzle
And to make life easier for you we’ve included:
- Teaching notes and assembly instructions
- 2 detailed lesson plans
Your business and economics lessons don’t have to be as boring as the stock market report!
Australian Curriculum Content? Consider it done!
You can tick off the following Curriculum descriptors!
✓ ACHASSK149 – How the concept of opportunity cost involves choices about the alternative use of resources and the need to consider trade-offs.
✓ ACHASSI130 – Work in groups to generate responses to issues and challenges.
✓ ACHASSI131 – Use criteria to make decisions and judgements and consider the advantages and disadvantages of preferring one decision over others.