Ask your child to sing the "Opportunity Cost" song:
Opportunity Cost
To the tune of: “Home on the Range”
Oh give me a choice,
Oh, a difficult choice…
And I’ll think about what I could use.
I’ll have to decide
With my eyes open wide,
What I’ll give up and what I will choose.
Opportunity Cost!
It’s the thing you give up
when you choose.
It’s the price that is paid,
When a choice must be made.
It’s the thing that I surely will lose.
From:
The Econ Song Book
C/O Martha C. Hopkins
James Madison University