Opportunity Cost

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Storyboard Description

for economics

Storyboard Text

  • Should I buy a bag of chips or save my $2.
  • ...I think I'll save the $2.
  • The decision Destiny decided to make is called an Opportunity Cost. An Opportunity Cost is the loss of potential gain from other alternatives when one alternative is chosen. So what was the opportunity cost? it was the bag of chips because it was the next best alternative.
  • Should I study for my Economics test tomorrow or just go to bed. I'm really tired but I want to pass that test tomorrow.
  • Scene 1 starts off with Destiny deciding whether she should buy the chips or save the money.
  • Some Opportunity Costs can be beneficial to us or it can harm us. It is hard to decipher which choice we should make.
  • Abyssinia explains opportunity cost.
  • I'll do the right thing and study.... even though I know I'm going to fail anyway. Maybe this time I might get lucky.
  • Kei'Aysha deciding if she should go to bed or stay up and study.
  • Now that we have a better understanding of Opportunity Cost, we should always examine our choices and decided what our best bet is.
  • Vanessa explaining Opportunity Cost.
  • Kei'Aysha making the right decision
  • Final Scene: Destiny
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