Unveiling the Soundscape Music for Psychedelic Experiences
Spending and opportunity cost
1. Lesson 2: Why does every decision have
an opportunity cost?
2. 2. go to the movies with a friend
3. play video games at home
4. play a sport with your friends
5. read a book in a favorite place
6. practice an instrument
7. watch TV with your family
3. 2. go to the movies with a friend
3. play video games at home
4. play a sport with your friends
5. read a book in a favorite place
6. practice an instrument
7. watch TV with your family
4. A trade-off is a decision that results in
giving up one thing to get something else.
Youhad a limited amount of time and
several options. You made a trade-off with
your time based on your preference about
the choices given.
5. Opportunity cost is the next best
alternative a person gives up in making a
decision.
Opportunity cost is the cost we pay when we
give up something to get something else.
There can be many alternatives that we give
up to get something else.
6. You make a choice and must give up other
options every time you make a decision.
You make a trade-off and decide what is
more important to do or choose.
The second option you choose not to do is
the opportunity cost.
7. 1. You and your partner will receive a
scenario about a student.
2. Based on the information, list the options
this person has. Identify the best choice for
him/her.
3. Decide what opportunity costs the person
has when s/he follows one of your options
for them.
8. Your pair will present to another pair your
scenario and share what the trade-offs and
opportunity cost(s) were for your person.