Curated OER
Economics Unit I - The Basics
Twelfth graders access how scarcity requires individuals and institutions to make choices about how to use available resources. They explore the characteristics of different economic systems and institutions. Student are able to describe...
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The Game of Business
Students 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.
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Popcorn Economics
Students examine the concept of scarcity. In this economics lesson, students define scarcity and take part in an activity that illustrates the concept as it relates to goods and services.
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Scarcity and Opportunity Cost - To Choose Is To Refuse
Young scholars are introduced to scarcity and opportunity costs. They discuss how different societies allocate their resources differently based on their needs. Illustrating trade offs, they create a production possibility frontier. They...
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Scarcity and Choice
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...
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What is Economics?
Students define economics; Explain the importance and process of making economic choices and decisions; Identify the factors of Production; Determine the goal of entrepreneurship. Students identify and describe the difficulties...
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Scarcity and Choices
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...
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Economic Decisions
Students practice decision-making skills by planning vacation, including all proposed expenses. Students distinguish between needs and wants, identify difference between goods and services, and describe economic resources used in...
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What is Economics? An Economic Board Game
Learners learn the fundamental concepts of economics as it relates to government.
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Values, Wants, and Needs
Build a basic understanding of four fundamental economic principles. Defined here are the concepts of value, scarcity, want, and need. All of these terms are very important to understand when discussing economic choices or cost/benefit...
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Location of Resources in Early Civilizations
Sixth graders define scarcity and opportunity costs.
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Road To Roota
Did you know that there are comic books that can help learners discover economic concepts like supply and demand. The format of this lesson is highly engaging and enables them to discover how economics can be an exciting field of study....
Curated OER
Food Insecurity
Explore food insecurity and resource scarcity with your class. They discuss the sharing of scarce resources, how to be good caretakers of these resources, and how choices impact the entire world.
Federal Reserve Bank
Lesson 1: Katrina Strikes
Most families have an emergency kit in their home with flashlights, water, and extra food. But what happens to your money when disaster strikes? An economics lesson focused on the aftermath of Hurricane Katrina in 2005 demonstrates the...
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Prioritizing National Economic Goals
Eighth graders define the generally accepted list of national economic goals. They discuss the compatability/incompatibility of goals. They participate in a consensus-building exercise to rank economic goals in order of importance.
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The Economy
Students explore the role of government in the economy market. In this economics lesson, students analyze the decision making and how it takes into consideration additional cost, benefits and public awareness of what they are trying to...
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Scarcity & Choice
In this economics activity, students respond to 16 fill and the blank and multiple choice questions about scarcity and choice.
Council for Economic Education
A Perfect Pet
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.
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Trade Offs and Opportunity Cost
Students explore the role of government in the economy market. In this economics lesson, students analyze the decision making and how it takes into consideration additional cost, benefits and public awareness of what they are trying to...
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Beach Burgers
Twelfth graders develop economic literacy of basic economic problems confronting all societies. Economic decision making, scarcity to make choices, economic confronts, market system, prices, demand curves and supply curves are all covered.
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Distribution of Goods
Students study the concept of scarcity and that it requires people to make choices when trying to satisfy their unlimited wants. Groups are given bags of items and must distribute the items in the bag in a way that is acceptable to...
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Net Results
Young scholars investigate through role play how decisions by watermen, recreational fisherpeople, and lawmakers influence and are influenced by economics and the abundance or scarcity of fish and shellfish stocks. They consider social,...
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Poverty and Natural Disasters: Exploring the Connections
Students explore the connections between natural disasters and poverty. In this economic lesson plan students examine worksheets and activities for each level.
Council for Economic Education
Production Possibilities Curve
Demonstrate the important economic principles of the production possibilities curve, including how to calculate opportunity cost and graph curves by using a table or calculation. Learners use a variety of methods, including videos,...