Understanding Cost

What is Cost?

The cost is what you have to give up to get something you want. Most times, it's money. If a toy car costs $5, you give up $5 to get it.

But cost can also be other things, like time! If you spend an hour playing, the cost might be the time you could have spent reading a book.

Cost in Action!

You want an ice cream cone. It costs $2. If you buy it, you give up $2. That $2 could have been saved for a bigger toy, or used to buy a small pack of stickers instead.

Every time you choose to buy something, you are giving up the chance to buy something else with that same money. That's why understanding cost helps you make good choices!