Texas Education Agency
Texas Gateway: Chapter 2: Choice in a World of Scarcity: Key Concepts & Summary
This section focuses on the key concepts and a summary of macroeconomics covered in Chapter 2: Choice in a World of Scarcity from the TEA AP Macroeconomics.
Khan Academy
Khan Academy: Lesson Summary: Scarcity, Choice, and Opportunity Costs
An introduction to the concepts of scarcity, choice, and opportunity cost.
Texas Education Agency
Texas Gateway: Ap Macroeconomics: Introduction to Choice in a World of Scarcity
In this chapter, you will learn about how individuals make choices based on their budget constraints, the production possibilities frontier and social choices, and confronting objections to the economic approach.
Robert Schenk, PhD
Cyber Economics: Scarcity and Choice
This site from the St. Joseph's College examines the importance of scarcity and choice in terms of an economic system. A further explanation explores how various people have constructed utopias to assume away the problem of scarcity.
Council for Economic Education
Econ Ed Link: Scarcity With the Lewis and Clark Expedition (Teacher Version)
The Lewis and Clark expedition was filled with scarcity issues. They made life and death choices based on scarcity. In this instructional activity, you will travel back to the early 1800's in a time machine and travel with Lewis and...
Council for Economic Education
Econ Ed Link: Economic Spotter: Resources During Wwii
This is a lesson that deals with scarcity during WWII. Natural, human, and capital resources are discussed.
![Sukromne Gymnazium: The Study of Economics [Pdf] Handout](https://d15y2dacu3jp90.cloudfront.net/images/attachment_defaults/resource/large/FPO-knovation.png "Sukromne Gymnazium: The Study of Economics [Pdf] Handout")
Other
Sukromne Gymnazium: The Study of Economics [Pdf]
An introduction to basic concepts in beginning economics.
Tutor2u
Tutor2 U: Economics: Scarcity and Choices
This website offers a simple examination of scarcity, finite resources, and needs vs wants.
Council for Economic Education
Econ Ed Link: Off to Interactive Island
This site is a lesson that teaches students about scarcity and choice. Students participate in a simulation where they are asked to make choices about what they want to take with them in order to survive.
Texas Education Agency
Texas Gateway: Macroeconomics: Confronting Objections to the Economics Approach
By the end of this section, you will be able to analyze arguments against economic approaches to decision-making, interpret a trade-off diagram, and contrast normative statements and positive statements.
Council for Economic Education
Econ Ed Link: Work, Earnings and Economics: Using Lyddie by Katherine Paterson
In reading and discussing Lyddie, by Katherine Paterson, young scholars examine basic economic concepts and explore the growth of labor unions and the role of government in a market economy.
Council for Economic Education
Econ Ed Link: Economic Spotter: Resources During World War Ii
In World War II pennies were made of steel and zinc instead of copper and women were working at jobs that men had always been hired to do. Why? Because during war times, scarcity forces many things to change!
Council for Economic Education
Econ Ed Link: If I Ran the Zoo Economics and Literature
Welcome to the Zoo! In this two-day lesson you will use Dr. Seuss' If I Ran The Zoo book to introduce the economic concepts to your students. You will also get the chance to use actual zoo criteria to help a zoo "choose" new animals.
Khan Academy
Khan Academy: The Production Possibilities Frontier
The Production Possibilities Frontier (PPF) is a graph that shows all the different combinations of output of two goods that can be produced using available resources and technology. The PPF captures the concepts of scarcity, choice, and...
Other
Foundation for Teaching Economics: Homepage
The Foundation for Teaching Economics is committed to excellence in economic education. The Foundation offers free workshops for high school educators and students. This site includes workshop dates, locations, and registration...
Council for Economic Education
Econ Ed Link: I Can Dream Anything!
Go to this site for fun activities and a great lesson on personal choices and specialization. This lesson provides the primary teacher with an excellent opportunity to incorporate a character education lesson on self-esteem, while...
Council for Economic Education
Econ Ed Link: Paraffin Alia
All resources are limited. It is this simple fact--scarcity--that forces us to make decisions. When we do make a choice, we pass up some other opportunity. Opportunity cost is defined as the next best alternative not chosen, or the...
Council for Economic Education
Econ Ed Link: No Extra Room on the Mayflower
The students will explore the ideas of scarcity and choices by exploring a virtual model of the Mayflower. They will then pack a virtual suitcase making good choices about what they pack.
Council for Economic Education
Econ Ed Link: You Decide!
Think about a difficult decision you have had to make. After you decided did it work out? Why or why not? Why do you think decisions and choices are hard to make? We make personal decisions and we make decisions as groups. There is a...
Council for Economic Education
Econ Ed Link: Production Possibilities Curve
Students will apply the concepts of scarcity, choice, and opportunity costs using a production possibilities curve. Students will interpret points inside and outside the curve. As an extension, students will see the relationship between...
Council for Economic Education
Econ Ed Link: You Can Bank on This! (Part 2)
As in the first ', You Can BANK on This, you will learn that banking should not be confusing - it should be INTERESTING! Lesson Two will continue learning with Zing, but this time we will learn all about budgeting - and budgeting means...
Council for Economic Education
Econ Ed Link: Destination: Mars
Look up! Can you ever imagine standing on another planet and looking down at earth? We've been to the moon - now lets launch an expedition to Mars. Imagine all the preparation you will have to go through in order to have a safe and...
Council for Economic Education
Econ Ed Link: Scarcity With the Lewis & Clark Expedition (Student Version)
Use this EconEdLink intermediate lesson plan to teach your learners about the concept of scarcity. Allow students to use the interactive simulation of the Lewis and Clark Expedition to demonstrate their ability to make sound decisions in...
Other
Foundation for Teaching Economics: Lesson 2: Opportunity Cost and Incentives
This instructional activity covers the National Content Standard 2: Marginal Decision Making. It provides key terms and concepts around scarcity forces, changing opportunity costs which affect incentives and choices. It includes links to...