Save or Spend?

Name the opportunity cost of saving or spending choices.

Warm-up, learn, try it together, practice, then a quick check. About 15 minutes.

What children learn in Level 72

When you get money, you choose: spend it now, or save it for later. Both choices have benefits, and both have costs.
Spending now: you enjoy something right away. Saving: you wait, but you can buy something bigger later.
The opportunity cost is the next-best thing you give up. If Ava saves for a bike instead of buying a kite, the kite is the opportunity cost.
If Ava buys the kite instead, then saving toward the bike is the opportunity cost. Only Ava can decide which matters more!

Georgia Standards of Excellence in Social Studies:

SS3E4 — Explain the concept of opportunity cost as it relates to making a saving or spending choice.