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Opportunity Cost Video and Quiz
Source: Council for Economic Education (EconEdLink) | Type: Interactive Tool

This video teaches the concept of Opportunity Cost. Opportunity cost is what you must give up to obtain something else, the second-best alternative. However, what you must give up to obtain your first choice is not really money--it is whatever other good or service you would have spent the money on as your next-favorite choice.




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Review from September 11, 2012
By: Doug H.
Thank you! This is a great way to leverage the resources of Virtual Economics for everyone to use.