Federal Reserve Bank
Monster Musical Chairs and Scarcity
Why can't we have everything we want? Youngsters are introduced to the concept of scarcity through a game of musical chairs and by discussing what it takes to satisfy our wants.
Open Oregon Educational Resources
Principles of Microeconomics: Scarcity and Social Provisioning
There’s no such thing as a free economics course, but here's a resource that is as close as you can get. Drawing on the expertise of a textbook, augmented by input from higher education economics instructors, a helpful eBook presents a...
Curated OER
Scarcity, Choice and Decisions
Students study the basic economic trilogy (scarcity, choice, and costs). In this money management instructional activity, students use a scenario of a High School Prom to calculate how scarcity, choice and cost apply by completing...
Curated OER
Chapter 13: Money and Banking
Where does money come from? If your class can't answer this question (beyond "my parents"), this presentation will be a timely and appropriate way to teach them. Details about currency, money supply, and the banking system, help explain...
Curated OER
Economics during the Civil War
Learners synthesize the concepts of scarcity, supply, and demand, pertaining to the Civil War time period. In this economics instructional activity, students gain understanding of economic terms through read-alouds, Venn diagrams,...
Curated OER
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...
GeorgiaStandards.org
Using Connecting Themes in First Grade Social Studies
Foster contributing members of society with a social studies unit focused on five aspects of community. First graders discuss themes of culture, groups, location, scarcity, and change with discussion questions and activities about...
Council for Economic Education
Teaching Economics Using Children's Literature
Introduce young learners to the subject of economics using their favorite stories and books. Including 24 separate lessons, this guide covers economic principles such as trade, scarcity, consumer goods and services, renewable and...
Council for Economic Education
Great Civilizations Develop around Rivers
If you lived in prehistoric times, what kinds of choices could your family make to increase their chance of survival? By making similar decisions in a simulation game, participants discover how specialization creates both opportunity and...
Curated OER
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.
Curated OER
Choice, Opportunity, Cost and Decisions
High schoolers discuss the definition of scarcity and tradeoffs, and the differences between choice and cost. They create budgets and must provide tradeoffs for some of their choices.
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...
Curated OER
Introduction to Economics
Learners discover the basic economic problem: scarcity; examine how "there is no such thing as a free lunch" (opportunity costs); and define economics. They act out a play demonstrating basic economic principles.
Curated OER
The Soviet Choice For Growth
Students examine five major events in Soviet History to introduce the concept of opportunity cost. They identify considered alternatives at the time of decision and examine benefits and cost. They apply these ideas to a typical school day.
Curated OER
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...
Curated OER
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...
Curated OER
Water, Water, Everywhere (High School)
Students view different types of water to make the point that salt or polluted water isn't useful for drinking water. They chart causes, consequences and solutions to water scarcity based on internet research. They write an essay as...
Visa
Savvy Spending: Sharpening Money Decisions
Do you really need that new laptop/phone/dress/jacket/etc.? Financial decisions require us to distinguish between our wants and our needs. Through discussion and the evaluation of scenarios on provided worksheets, this resource...
Curated OER
Spend, Save, Invest or Donate (9-12)
Students explore the concept of personal finance. In this philanthropy instructional activity, students examine decisions they make about money as they discover the definitions of philanthropy, resources, scarcity, choice, benefits,...
Curated OER
Survival Extravaganza
Fifth graders discuss the effects of scarcity. In this survival lesson, 5th graders use strategies that would help them survive in a survival situation. Students write letters about bears in need of help to survive. Students answer...
Curated OER
WWJD: What Would Jimmy Do?
Students interpret historical evidence presented in primary and secondary resources. In this 1973 oil crisis lesson, students research details regarding President Carter's policies regarding the oil crisis that produced a scarcity...
Curated OER
DRY WELLS THAT ARE NOT SO DRY
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...
Curated OER
Food Insecurity in a Global World: Perspectives from Africa (Lesson One)
Students investigate food scarcity. In this global issues lesson, students examine food scarcity issues that have impacted the people of Eastern Africa. Students use the information they gather to determine methods of providing...
Curated OER
Opportunity Cost
Students explore the concept of opportunity cost. Classmates discuss, orally and in writing, a time when they had to make a choice when all choices seemed worthwhile. They explore the impact of making decisions when resources are...