Cost-Benefit Analysis Worksheet
Grade 6 Social Studies worksheet on understanding and applying cost-benefit analysis to everyday decisions.
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Cost-Benefit Analysis
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Read each question carefully and answer to the best of your ability. Remember to think about the costs (what you give up) and the benefits (what you gain) when making decisions.
1. A is something you gain when you make a choice.
2. A is something you give up or sacrifice when you make a choice.
3. The process of weighing the pros and cons of a decision is called .
4. When the benefits outweigh the costs, it is generally considered a good .
1. You want to buy a new video game. What is a likely opportunity cost of this decision?
Having fun playing the game
Not being able to buy a new book
Spending money
Learning new skills from the game
Imagine you have saved enough money to either go to a concert with a friend or buy a new bicycle. You can only choose one. List two benefits of going to the concert and two benefits of buying the bicycle.
Concert Benefits:
Bicycle Benefits:
1. A cost-benefit analysis only considers the money involved in a decision.
True
False
Based on the previous scenario (concert vs. bicycle), which would you choose and why, using a cost-benefit analysis?