Every time you make a decision, thereโs probably a list of tradeoffs you make
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15
How much did NFL player Travis Kelce's jersey sales increase when Taylor Swift was seen attending one of his games?
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15
Carlos wins two tickets to this yearโs Super Bowl. Since he is a 49ers fan decides to take four days off of work. What is the opportunity cost?
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15
Albert decides to go to tutoring instead of an extra basketball practice. What is the opportunity cost?
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15
Melvin went to Sizzlers. He wanted to buy lobster, but discovered that there was a 2 meal for $25 special of steak and shrimp. He decides to order that instead. What is the opportunity cost?
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15
The lowest value tradeoff is your opportunity cost
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boom
Lose 50 points!
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gift
Win 15 points!
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shark
Other team loses 25 points!
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baam
Lose 15 points!
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15
if you donโt really care about the option you didn't choose, the opportunity cost is low.
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seesaw
Swap points!
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shark
Other team loses 20 points!
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shark
Other team loses 5 points!
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baam
Lose 25 points!
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15
the value of the most important thing you give up when you make a decision (the next best alternative)
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15
Mrs. Prince has $50 and she goes to Macyโs. They have a dress on sale for $45 and a pair of shoes on sale for $48. The shoes were originally $150, so she buys them. What is the opportunity cost?
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15
Charles goes to Gamestop with only $50. They have the new Call of Duty for $49.99 or a sale on controllers for $35. Since the controller was on sale, he decides to buy it. What is the opportunity cost?