How do you explain opportunity cost to a child?
I'm trying to explain the concept of opportunity cost to a young child. How can I simplify this economic idea in a way that a child can understand?
How to explain opportunity cost to a child?
I want to teach my child about opportunity cost, but I'm not sure how to simplify the concept enough for them to understand. How can I explain this economic principle in a way that's easy for a young mind to grasp?
What is the principle of opportunity cost?
I'm trying to understand the concept of opportunity cost. What exactly is the principle behind it? I want to know how it affects decision-making in economics and daily life.