YOUR OPPORTUNITY COST TODAY In every decision that you make, you gain something and give something up. In other words, all decisions have
opportunity costs. Think like an economist to help you decide what to do later today.
1. Imagine all of the possible things that you could do after you finish this assignment (watch TV, go to a
friend's house, study for a test etc.) Pick three possibilities and list your favorite option in left column and the
other two in columns 2 and 3.
Option #1 (Your Selection)
Option #2 (Opportunity Cost)
Option #3
]
2. I chose to
and my opportunity cost of that decision was that I did not get to
3. If the choice that your wrote down in Option #1 did not cost you any money, would
there still be an opportunity cost? Explain.
Economists