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Material Detail

Scarcity, Choice and Decisions

Scarcity, Choice and Decisions

This lesson concerns the interrelated concepts of scarcity, choice, and costs. The objectives are to Define the opportunity cost of a decision as the most valued discarded option and Analyze trade-offs involved in making spending decisions. Although designed for high school students, it could be used in a freshman level economics class.
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More about this material

Material Type:
Drill and Practice
Date Added to MERLOT:
August 27, 2005
Date Modified in MERLOT:
June 12, 2018
Author:
 
Submitter:
Cathy Swift
Asian American, Native American, Pacific Islander Serving Institution Hispanic Serving Institution
Primary Audience:
High School, College General Ed
Mobile Compatibility:
Not specified at this time
Language:
English
Cost Involved:
No
Source Code Available:
No
Creative Commons:
No

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