opportunity cost

[Beth Fisher]

I did a fun activity to teach "opportunity cost".  My students had 3 things from which to choose from:  a jelly bean, a plain piece of paper, or a sticker.  They wrote the items into the 3 columns on a sheet in our MC3 unit 4 packet. They then wrote the positives and negatives of each thing.  Then they chose one thing and numbered the others 2 and 3.  After taking the one choice, we talked about how they felt about not getting choice 2.  That was their opportunity cost.  They really understood it and enjoyed it!