While Tiana’s friends were out dancing, she was working and saving her money. She dreamed of being able to open her own restaurant, and she was committed to her savings plan.
Elementary Students and Decision-making For elementary students, have a conversation about economic decision-making. Because Tiana wanted to open up her own restaurant, she was saving money. That meant she had to give up going out dancing, because that would cost money. When we have to make a choice, we give something up. That is our opportunity cost. You can use the elementary lesson we created on opportunity cost. Ask: What was Tatiana's opportunity cost when she decided to stay home to save money to open her own restaurant? You can use the following elementary EconExpress books we created to further explore work, opportunity cost and scarce resources:
Use the News For Secondary
Use our blog post that asks the question: should you work for yourself or someone else? https://floridafinancialliteracy.weebly.com/blog/do-you-want-to-work-for-someone-else-or-for-yourself Students can interview some family members or friends about their jobs. Tell students to make sure they include some people who work for others and people who work for themselves. Here are some possible questions:
Here is a link to the activity for students.
Plan Your Own Restaurant Another activity that you can engage students with is to have students plan their own restaurant.
Florida Standards Here are some of the standards we cover in these activities.
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