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Theme 3 Lesson 7:
To Choose Is to Refuse

By participating in a readers' theater activity, the students learn about opportunity cost as a key factor in decision making. They use the concept of opportunity cost in a related simulation activity, deciding which wants to satisfy with limited income.

Visuals & Activities

Concepts

  • Cost
  • Economic Wants
  • Income
  • Opportunity Cost
  • Scarcity
  • Wage
  • Wants

Standards in Economics and Personal Finance

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