Every day you will have to make a choice. Whether it is what music to listen to, what to have for dinner,
what shoes to wear etc. Sometimes you will have several options but, there will generally be at least
one option that misses out.
These choices are also present in business. Businesses have to choose what option to take, e.g.
Manchester United recently had to decide whether to buy Bruno Fernandes or not. They could have
possibly used the time and money for someone / something else.
A) What is the opportunity cost for the following cases below?
1. Adrian is not sure whether to play football or rugby this year. He is a smart young
boy and chooses to play rugby.
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2. Valentino and is hungry. Her friends want to go to KFC but she prefers McDonalds. Valentino
decides to get a Big Mac Meal.
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3. Alessia enjoys a cup of coffee every morning. She wants to try the coffee from the Canadian
franchise, Tim Hortons. However, she always used to drink Starbucks.
…………………………………………………………………………………………………………………………………
B) Now write two of your own examples on how you spend your time after school
C) Write a definition for Opportunity Cost