What is opportunity cost in simple terms?

Opportunity cost is the value of the next best choice you give up. It is not every option you skip, only the best one you did not choose. In one scenario on the sheet, Marco mows a lawn for $25, so his opportunity cost is walking dogs for $20.

What is a decision grid?

A decision grid lists options in rows and what you care about in columns. Students check each box an option meets and add the checks. The option with the most checks is the best choice and the runner-up is the opportunity cost.

6th Grade Needs, Wants and Choices Worksheets

Ages 11-12 · Free previews · Print-ready PDFs

Written by Adi Ackerman, Head Teacher

Needs are what people must have to stay healthy and safe, and scarcity means every person, business and government has to choose how to use what they have. These needs, wants and choices worksheets hold 2 6th grade sheets, each with an answer key. Needs, Wants and Limited Resources has students sort 12 items and decide how the town of Riverton should use its water in a drought. Opportunity Cost and Trade-Offs asks for the next best choice in 6 scenarios and ends with a decision grid for Jayden's after-school activity. Needs, Wants and Limited Resources carries D2.Eco.1.6-8.

6th Grade Social Studies Economics and Money Needs, wants and choices Clear All

Needs, Wants and Limited Resources

Grade6th Grade

TopicEconomics and Money

Opportunity Cost and Trade-Offs

Grade6th Grade

TopicEconomics and Money

More economics and money worksheets

Explore all of our 6th grade economics and money worksheets, covering needs, wants and choices, supply and demand, goods, services and trade, personal finance, and more.

Supply and demand Goods, services and trade Personal finance Business and taxes Economic systems and inflation

Frequently Asked Questions

Needs are things people must have to survive and stay healthy and safe, such as food, water, shelter and medicine. Wants make life more fun or comfortable but people can live without them, such as toys, treats and designer versions of everyday items.

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