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How would I teach the concept of opportunity cost to 5th graders as a story?

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In trying to create a story for fifth graders, I would try to find something that related to them. Opportunity cost can be defined as what is given up or gained as a choice is made. For example, in the case of the fifth graders, I would ask them what they could possibly do on a Saturday afternoon. They could do chores—an activity that would make their parents happy. They could study in order to get better grades. They could spend time with friends. They could exercise and be healthy. They could also play video games or watch television. For the story I would create, I would have an imaginary fifth grader make a choice as to what he/she wanted to do on a Saturday afternoon. I would also have this same fifth grader examine what is given up by making the choice. For example, the fifth grader could relax by watching cartoons but have parents who might not be happy due to chores not being finished. The fifth grader could also lose out on spending time with friends or have lower grades due to not studying. The most important things are that the story is something the students can relate to and it demonstrates opportunity costs. The students should see that they deal with opportunity costs in their everyday lives whether or not they know that they exist.

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