Ned’s birthday is coming up and he has already received $30 from his granddad. The problem is that Ned wants a set of books priced at just under $30, and he also wants to see a movie, complete with popcorn and soda. Sydney helps Ned see that, although he can’t have it all, he can see a movie and have some of the books he wants if he trades off a little of one thing to a little more of something else.
Essential Question: When you do not have enough resources or funds to purchase all the items you want, how do you decide what to purchase?
Learning Objective: Students will explain how decisions usually involve trade-offs.
Essential Vocabulary: benefits, buyer, choice, costs, consumer, goods, income, money, opportunity costs, price, seller, services, spending, trade-offs, taxes, wants
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