This lesson introduces learners to the important concept of opportunity cost, we start by looking at what opportunity cost actually means with some examples, we then have a number of scenarios where students might find themselves in, in the near future. Students are presented with two options, they have to make a choice, we discuss the reasons for their choice and any depends factors (all AOs developed). In the last scenario, we look at whether a student should go it alone or open up a business with a friend - students consider the opportunity cost and answer the 10 mark question, structure guidance and a concise model answer provided.
Colourful, concise and engaging slides!
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