Objectives:
- Explain the concept of opportunity costs and its importance in decision-making for an entrepreneurial venture.
- Analyze real-life examples to understand the trade-offs involved in decision-making.
- Apply economic concepts such as scarcity, choice, and opportunity costs to make informed decisions.
Age Level: Early secondary school
National Standards: Complies with NBEA Entrepreneurship 2023 Standard IV.A.9: Explain the importance of opportunity costs when making a decision.
Materials:
- Whiteboard and markers
- Laptop or projector for presentation
- Handouts for the game and review activity
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