Scarcity and Choice Teacher Resources

Find Scarcity and Choice lesson plans and worksheets
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Scarcity & Choice

For Students 11th - 12th
In this economics worksheet, learners respond to 16 fill and the blank and multiple choice questions about scarcity and choice.
6:57
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Basic Economics Lesson 1 - Humans Act

For Teachers 9th - 12th
Basic economics, according to this narrator, is based on human actions. This is a very academic video that describes economics in terms of means and ends, scarcity and choice. Note: This clip may be a bit dry for some students and is...
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Scarcity and Choice

For Teachers 1st - 3rd
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.
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Scarcity and Choice: Mercantilism - the relationships between England, Africa, and the Americas

For Teachers 9th - 12th
Students trace the meaning and importance of mercantilism; past and present.
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Scarcity and Choice

For Teachers 9th - 12th
Pupils 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 production-possibilities...
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Scarcity and Choices

For Teachers 1st
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 Activity and Markets

For Teachers 9th - 12th
Students 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, through...
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Economic Forces

For Teachers 8th - 12th
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...
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Economics: Goods and Services

For Teachers 6th - 8th
Students examine the production of goods and services and the development of economic systems. After discovering how scarcity drives production, they identify people in their communities who produce goods and services. Next, students...
6:39
Lesson Planet

EconMovies 1: Star Wars (Scarcity, Choices, and Exchange)

For Students 11th - 12th Standards
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...
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Basic Trading

For Teachers 2nd - 6th
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...
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Economics: People as Producers and Consumers

For Teachers 6th - 8th
Young scholars 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...
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What is Economics?

For Teachers 11th - 12th
Young scholars 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.
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The Game of Business

For Teachers 9th - 12th
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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Document: advertisements Change Business

For Teachers 7th - 8th
Students consider how new technology is incorporated into an economic system. In this economics lesson, students analyze advertising images form the 19th and 20th century to discover the economic connections between advertising,...
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A Perfect Pet

For Teachers 2nd - 6th
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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Micro Economics - Personal Budgeting

For Teachers 9th - 12th
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...
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Korea "Home Sweet Home"

For Teachers 4th - 8th
Make a study of Korean geography and living situations with a collaborative poster project. Given a scenario card, small groups recreate an appropriate living situation on their poster and then examine trading and economics.
9:04
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Specialization and Trade

For Students 9th - 12th Standards
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.
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Gentrification

For Teachers 7th
Seventh graders compare and contrast free markets, command economies, and mixed economies as demonstrated by making a summary of each. They develop solutions or alternatives to gentrification as demonstrated by producing a law proposal....
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A Share in America

For Teachers 4th - 5th
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.
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CHAIN OF EVENTS

For Teachers 10th - 12th
Learners, 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...
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Canal Connections

For Teachers 2nd - 3rd
Students study the interdependence of producers and consumers. In this economics lesson, students explore the many professions that must work together to turn raw materials into products for consumption. Students explore the role of the...
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Economics Using SimCity 2000

For Teachers 5th
Fifth graders build a city and balance a budget for the population.

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