Economic Choice/
Opportunity Cost
Opportunity Cost
Kinds of Resources
Specialization
Trade
100
You go to a baseball game. You can buy a hot dog or popcorn. You choose the hot dog. What is your opportunity cost?
Popcorn
100
Which of the following is a human resource?
a. Car
b. Butter
c. Baker
c. Baker
100
A teacher specializes in----?
teaching children
100
Your neighbor gives you eggs in exchange for butter. This is an example of
Trading
200
You go to the clothing store. You can either buy a red hat or a yellow hat. You choose the red hat.
What is your economic choice?
.
Red Hat
200
Materials that come from nature are called?
Natural Resources
200
True or False:
Walmart specializes in clothes, shoes, groceries, tires, gardening, and baby things.
False- Walmart does not specialize in anything since they have so many things.
200
What did Maryam trade to get the cupcake?
money
300
Economic Choice. ????????
Opportunity Cost
300
A horse helping to plow a field is a _________ resource.
Capital
300
A dentist specializes in ----?
Teeth
300
Virginia grows tomatoes and gives them to New York. Virginia receives _____________ in exchange.
a. cars
b. money
c. Oranges
b. Money
400
You only have $4.00. What is your economic choice from the menu items below?
Hamburger
400
This is a picture of lots of different kinds of _______ resources.
natural resources
400
A Pupuseria specializes in making ______
Pupusas
400
Exchanging goods and services to get what you want or need is called
Trade
500
What is the Opportunity Cost?
Doll
500
A factory is a ____________ type of resource.
Capital
500
the definition of ___________ is being an expert in one job, product, or service
specialization
500
What would you do if you wanted to trade with someone but they didn't want to trade with you?
Find someone else to trade with.