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Name Date Class ECONOMICS LABORATORY (CONTINUED) 1 STEP 5. THINK ABOUT RELATED CHOICES AND OPPORTUNITY COSTS Because you are working, you have money. What will you do with it? Thistown Manufacturing Will you spend most, and have less to save? Or will you save most and have less to spend? This is an economic choice and comes with MARYLOU GLENDALE opportunity costs. EIGHTY AND ORATOR DOLLARS 10. Make a graph below showing your choices for spending and saving your earnings, similar to the Free Time/Work Time graph. Use the pay stub at the right to find your earnings after deductions. 80 70 60 Dollars Saved 0 10 20 30 40 50 60 70 80 Dollars Spent STEP 6. DRAW CONCLUSIONS ABOUT OPPORTUNITY COSTS 11. What pattern do you see in the graphs you drew in this activity? 12. Write a paragraph that explains this pattern and how "INSTAAFL" is a fair summary of economic choices and opportunity costs