Carolina K-12
Factors of Production and Economic Decision-Making
Class members begin this engaging economics activity by listing all the resources used in producing a car and using that example to draw parallels to the four primary factors of production: capital goods, labor, natural resources, and...
Carolina K-12
Comparing Economic Systems
How do people make decisions in a world where wants are unlimited but resources are not? How do individuals and governments utilize scarce resources (human, natural, and capital) in different economic systems? Introduce your learners to...
Carolina K-12
Practice Test of Economics
From scarcity and supply and demand to entrepreneurship and the stock market, here you'll find a multiple-choice assessment that includes 34 questions covering all the major concepts of a traditional economics course.
Carolina K-12
Sample Test: Economics
From scarcity and marginal benefits and costs to economic systems and GDP, this 22-question multiple choice test covers some of the most fundamental concepts of economics.
Council for Economic Education
Mercantilists and the Midas Touch
What is the connection between greed and mercantilism? Historians consider this question by analyzing a fairy-tale like story about King Midas from the nineteenth century. The background information and excerpt help pupils understand the...
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,...
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...
University of Texas
Scarcity
How can having too little of something impact your life? Scholars investigate the concept of scarcity in their own lives and in the overall picture of the economy. Brainstorming activities as well as student-parent work bring to light...
Education Fund
Fear the Scarce Resources
In a life or death situation, what resources would you choose to survive—and why? A zombie attack simulation teaches learners the concepts of scarcity and resources in regards to economics. The hands-on activity requires individuals to...
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...
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...
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.
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...
Federal Reserve Bank
Choices Are Everywhere: Why Can’t We Just Have It All?
Here is a resource covering a range of terms and concepts regarding scarcity, opportunity cost, and government debt in economics.
Sharp School
Real Life Economics 101
Your learners will take key economic concepts, such as identifying needs versus wants and the four factors of production, and design a video to explain their topic choice to the class. Rather than have one person in charge of dispensing...
Center for Entrepreneurship and Economic Education
Popcorn Economics
Scarcity of resources is a fundamental economics concepts that kids need to understand. You'll use a large bag of popcorn to demonstrate this concept. Have the class come up row-by-row to fill their snack bags with popcorn. By the last...
Curated OER
Rachel's Life is in a Hole
Explore how lack of access to water impacts peoples' lives in poor countries. Through text reading and discussion, middle schoolers are presented with the story of a young girl who lives and functions with limited water resources. They...
Curated OER
Econ in a Bag
Here is a nice idea, have your young entrepeneurs form their own companies. Each company is given a paper bad to locate and place resources in that they can use to create products their businesses sell on Sale Day. They identify and...
Curated OER
Chapter 2: The Economizing Problem
It doesn't take a lecture on economics to convince teenagers that one's wants often exceed one's means, but this presentation will hopefully help them to understand the discrepancy. Using an example of pizza and robot arms, the slides...
Curated OER
Chapter 1: The Nature and Method of Economics
If the extent of your class' economic knowledge is the five-dollar bill they spent on lunch, then this presentation will be a good introduction to economics. From the basics of policy economics versus theoretical economics, to the...
Curated OER
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...
Curated OER
Make a Choice
Students investigate the Underground Railroad to determine the choices that people made. To help, to stay, to do nothing, to break the law to enforce the law, to feed runaways are some of the choices that made a difference. This...
Curated OER
Scarcity of Water Throughout the World
Students identify the various forms of fresh water on the earth. They observe a demonstration aand read articles that show them the importance of water conservation. They write a journal about their opinion regarding paying for water.
Curated OER
Location of Resources in Early Civilizations
Sixth graders define scarcity and opportunity costs.