FRIDAY Please get out your key terms (16, 17, 25, 26) Recap!? – Trade-Off, Opportunity Cost, Cost of Trade Offs, Sunk Costs Balancing Trade Offs & Opportunity Costs – A fancy way of saying, “What are the pros & cons?”

This vs. That Go to College vs. Work as a Mechanic after High School Play a Varsity Sport vs. Take AP Classes Work Your Way Up to a CEO vs. Inheriting a Major Business Working to Save a Relationship vs. Breaking Up & Starting All Over Living at Home/ Commuting While in College vs. Living on Campus Be Poor at a Job You Love vs. Be Rich at a Job You Hate Be the Worst Player on the Best Team vs. Be the Best Player on a Mediocre Team Eat Healthy vs. Exercise Regularly Spend $1,000,000 vs. Save $1,000,000 Own an Amazing Car & Mediocre House vs. Own an Amazing House & Mediocre Car Have 2 Best Friends vs. Have 20 “Not-Best” Friends Be Physically Handicapped vs. Mentally Handicapped Move Far Away for a Potential Job vs. Pass-Up a Potential Job to Stay Near Loved Ones Be Married & Have No Children vs. Get Divorced but Have 2 Children Make a Ton of Money at Once & Budget it for 10 Years vs. Gradually Increase Your Income Over 10 Years Raise Your Kids with Protection (based on your mistakes) vs. Raise Your Kids without Blinders Attend A Huge College/ University vs. Attend A Private College/ University

Balancing Trade Offs & Opportunity Costs What Does it Mean to YOU? * this mini project is worth 30 points! * Your Diagram/ Visual Must Include: Your Trade-Offs (_____vs_____) Your Trade-Offs (_____vs_____) Name Name Map Layout (see model) Map Layout (see model) Key (see model) Key (see model) AT LEAST 20 total positive outcomes AT LEAST 20 total positive outcomes AT LEAST 20 total negative outcomes AT LEAST 20 total negative outcomes AT LEAST 5 images/ pics per side (10 total) AT LEAST 5 images/ pics per side (10 total) Your priority/ your opportunity cost (see model) Your priority/ your opportunity cost (see model)

Finish Grad School vs. Save Money Possible Choice Positive Outcome Negative Outcome KEY Your Trade Offs GRAD SCHOOL SAVE MONEY Get my masters Spend $$ I don’t have Apply for a loan Get another job Get accepted Get denied Spend less time with friends/ family Meet new people/ teachers Discover a new career path ??? Eventually earn more $$ ??? Use the extra time for friends/ family Eventually earn less $$ Become less marketable/ competitive for jobs Have more $$ now for teaching supplies/ clothes Kids will enjoy lessons more ??? Your Priotity: Grad School Your Opportunity Cost: Saving Money

Finish Grad School vs. Save Money Possible Choice Positive Outcome Negative Outcome KEY Your Trade Offs GRAD SCHOOL SAVE MONEY Get my masters Spend $$ I don’t have Apply for a loan Get another job Get accepted Get denied Spend less time with friends/ family Meet new people/ teachers Discover a new career path ??? Eventually earn more $$ ??? Use the extra time for friends/ family Eventually earn less $$ Become less marketable/ competitive for jobs Have more $$ now for teaching supplies/ clothes Kids will enjoy lessons more ??? Your Priotity: Grad School Your Opportunity Cost: Saving Money