Scarcity and Choice Teacher Resources

In this economics worksheet, students respond to 16 fill and the blank and multiple choice questions about scarcity and choice.

After reading the book A Bargain for Frances, young economists discuss how money is exchanged for goods or services. They demonstrate effective financial decision-making by listing ways to save money for a product they would like to buy.

High schoolers trace the meaning and importance of mercantilism; past and present.

Students participate in a role play as producers of two goods, allowing students to experience scarcity. They make choices about using their scarce resource to produce both or one of two goods. Then they construct...

First graders gain an understanding of the scarcity of resources and how it affects the choices that we make in our everyday lives. Students will participate in a variety of activities such as literature analysis, shopping, journal...

High schoolers identify and interpret that economic activity involves making choices in the face of scarcity, therefore making choices involves a cost. They also identify that individuals interact in markets by inducing one another,...

Students explore the economic forces of scarcity and choice. They examine how these forces affect the management of personal financial resources, shape consumer decisions, and the economic well-being of society. Students research stock...

Scarcity, choices, and the fundamentals of economics... in Star Wars! Here is a highly entertaining and incredibly informative video that uses several clips from the Star Wars to explain how economists make assumptions. The video also...

Students review the basic ideas of exchange. In groups, they discover the incentives for trade and participate in a simulation. They are given a packet of stamps which are worth varying monetary amounts. They discover the concepts of...

Students examine the dual roles of producers and consumers in people by creating fictional stories that include examples of both. Their stories include descriptions of the tools and skills needed for the jobs of their characters and...

Students define economics and explain the importance and process of making economic choices and decisions. Students participate in four lessons revolving around economics and select activities to complete.

Young scholars practice the economic concepts of scarcity and opportunity cost. They imagine creating their own businesses and brainstorm what they need to know in order to determine when the business is profitable.

Students read the story "The Perfect Pet". They examine how scarcity is a problem in society when people can not have everything they want which forces them to make (economic) choices.

Students explore the real world as it relates to money and how people use it. In this money management lesson, students jump into the real world as they role play with money through spending, saving, being married, single, having...

Do companies work better when everyone works on everything, or when each person or department focuses on one specialized task? Explore the benefits of specialization and trade in the modern global economy with a explanatory video.

Students examine map - reflect on why English colonist kept coming to America (scarcity of land in England / seemingly endless land in America) Recite line from English poem. They discuss English attitude towards Indians and their lands.

Students, exercising knowledge, reasoning and communication complete a chart that is well-organized and well-detailed. They assess the Economic concepts of supply and demand and how that relates to production and sales. In addition, an...

Fifth graders build a city and balance a budget for the population.

Introduce the students to basic economic concepts and types of economic systems and develop the an understanding of how economic choices involve costs and consequences; provide introduction to rural America circa 1920 and compare to our...

Students describe the difference between a want and a need. In groups, they brainstorm a list of all of their wants and the method of exchange that is going to allow them to be satisfied. They discover how having money makes exchanges...

Eighth graders examine the impact of geography on a region. In this geography lesson, 8th graders study the themes of geography. Students write an open response to a question.

Sixth graders define scarcity and opportunity costs.

Students experience what it is like to be a responsible citizen through a monthly budget through using a variety of research skills. They apply collected data in a decision making exercise and present the final product in a clear and...

Students analyze how producers respond to incentives and allocate their scare resources to maximize profits. They write persuasive letters to government officials and others. They read "Dry Wells That Are Not So Dry." They take notes...