Economics
Opportunity Cost
Watch the video and complete the activity below the below the video.
Opportunity Cost
In this activity, you will read the scenarios below and then write down what the opportunity cost was in the scenario. Please answer the questions in a Microsoft Word document. When you are finished, share your document with Mr. Williams.
1. Someone gives up going to see a movie to study for a test in order to get a good grade. What is the opportunity cost in this scenario? ____________________________________________
2. At the ice cream parlor, you have to choose between rocky road and strawberry. You chose strawberry. What is the opportunity cost in this scenario? ____________________________________________
3. A player attends baseball training to be a better player instead of taking a vacation. What is the opportunity cost in this scenario?
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4. This semester you can only have one elective and you want both basket-weaving and choir. You choose basket weaving. What is the opportunity cost in this scenario? ____________________________________________
5. Tony buys a pizza and with that same amount of money he could have bought a drink and a hot dog. What is the opportunity cost in this scenario? ____________________________________________
6. You decide to spend $80 on some great shoes and do not pay your electric bill. What is the opportunity cost in this scenario? ____________________________________________
7. Jorge really wants to eat at a new restaurant and can only afford it if he does not order a dessert. What is the opportunity cost in this scenario? ____________________________________________
8. Define opportunity cost. ____________________________________________
Roles of a Bank
Watch the video below and complete the activity below the video. Be sure to share your answers by email or Office365.
Roles of a Bank
After watching the video, answer the TRUE or FALSE questions below. If the answer is FALSE, rewrite the sentence to make it TRUE. Answer these questions on a Microsoft Word document. Once you are done, please share your answers with your teacher through Office365.
1. The bank is a place to deposit and withdraw money.
2. Interest is a fee charged to people saving money in a savings account.
3. Tellers are allowed to keep the money given to them by the customers.
4. Savings accounts are accounts that allow you to earn interest while you save your money.
5. Loan officers’ jobs are to take money from customers and place it in the vault.
6. Financial intermediation is when savers give their money to the bank, and the bank provides those funds to spenders.
7. A vault is a location where all the money in the bank is stored.
8. A checking account is what people use when they have money they do not need to use or have access to every day.