Lesson - Opportunity Cost

Have you ever wondered why items such as clothes, food, and automobiles go "on sale?"
Is it true that "more is better?" These are questions that we ask ourselves in the study
of economics.
Our General Learner Outcomes #1 (Comples Thinker - Critical thinking and problem solving), #2 (Quality Producer), #3 (Effective Communicator - The ability to communicate effectively), and #4 (Effective and Ethical User of Technology - The ability to use a variety of technologies ethically, etc.) guide us into exploring Kamehameha's vision to exploit the fur trade and also declare the sandalwood trade as a monopoly. In order to understand how trade affected the
Hawaii from 1790 to 1805, we begin slowly to undertake these economics assignments. The first lesson is to define Opportunity Cost.

Write three examples of Opportunity Cost in your life, either at school or at home.
Due 10/19/10 (Benchmark SS.7HHK.8.1 - Role and Function of Markets and SS.7HHK.3.3 - Foreigners and Missionaries)

Example: My opportunity cost for playing tennis Sunday morning was giving up watching football during that same time and day.