Scarcity and Smart Choices Cost-Benefit Analysis Your Name Deck Gay Date Period Now that you are familiar with scarcity, choice, and opportunity cost, use this knowledge to tackle an important decision. Think of a current dilemma in your life where you need to make a choice. Perhaps you are considering which college applications to fill out. Maybe you are thinking about whether to get a part-time job. Or you may have a research paper due Monday and you are not sure whether Friday's party will fit into your plans. The possibilities are limitless, Think about your dilemma in the form of a "yes" or "no" question. For example, "Should I get a part-time job?" Step 1: Asking a Question, Identify a dilemma in the form of a question that can be answered "yes" or "no." Step 2: Using a Cost-Benefit Analysis. Cost-Benefit Analysis Your Dilemma: Costs Benefits Step 3: Answer the reflection questions. When your chart is complete, take a few moments to reflect on your work and answer these questions: Unless Otherwise Noted All Content @ 2022 Florida Virtual School. FlexPoint Education Cloud" is a trademark of Florida Virtual School