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Scarcity and Choice Teacher Resources
Find Scarcity and Choice educational ideas and activities
An impressive lesson plan produced by The Washington Post on various aspects of economics. This nine-page page lesson has an amazing variety of activities embedded in it for high school students. There are great worksheets, websites, articles, and in-class economic simulations embedded in this plan. Highly recommened for secondary learners.
Learners 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 choices and track their stocks over a period of time. They evaluate their stock market experiences and relate that to the Great Depression.
Young scholars use the internet to take a virtual tour of the Mayflower. Using that information, they decide what goods they would choose to take on the long voyage. They discover that space limits the choices they can make. They answer questions to end the instructional activity.
High schoolers participate in a scenerio in which they are assessed on the material in previous lessons. In groups, they prepare a presentation based on their solutions to the given problem. They develop their critical thinking skills applying terms to a real-world issue.
Introduce your class to the world of economics in this ELD lesson plan, which takes them through a market simulation. They work in teams to create businesses and produce products or services. Each team must buy materials as well as pay off loans and make hourly wages. This is supposed to last for two weeks, with the tasks of each day carefully detailed in the plan. It states that the lesson plan is for 2nd and 4th grade, but it might be more successful in a junior high or high school class.
Third graders examine the concept of bartering. In this bartering instructional activity, 3rd graders determine how to use bartering for wants and needs. They participate in a bartering game which they barter with classmates for items in they would like to add to their bartering bags.
Students are introduced to the topic of scarcity. Listening to different scenerios, they discuss the choices they have to make. They also discover what they give up is their opportunity cost. They make choices between different types of toys to help them with this topic.