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: Work, Earnings and Economics: Using Lyddie by Katherine Paterson
In reading and discussing Lyddie, by Katherine Paterson, students 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: Fad or Fortune
This lesson focuses on collectibles and how they retain, lose, or gain value. In each round of a trading simulation, students will learn more about the value of their collectibles and discuss why items gain or lose value. They will...
Council for Economic Education
Econ Ed Link: Sand Art Brownies
In this lesson, you will learn about substitute goods. You will have choices to make in your role as a shopper. In making these choices, you will decide whether you are willing to accept one good as a substitute for another or not. Are...
Council for Economic Education
Econ Ed Link: How the Crusades Led to the Finding of the New World
The instructional activity will help learners to discover the importance of the Crusades to the expansion of many European countries. Students will also be introduced to new products and find out why explorers were willing to risk all to...
Council for Economic Education
Econ Ed Link: A Moo Ving Experience
Students gain an understanding about non-profit organizations and the role they play in our economy. Students then learn about a relatively new type of fundraising effort, known as CowParade, for non- profit organizations that has been...
Council for Economic Education
Econ Ed Link: Tapped Dry: How Do You Solve a Water Shortage?
Economists do not operate in a vacuum. If an economist is going to suggest that the price of a good needs to be increased, he or she needs to consider who will bear the increase in costs. Will the costs be distributed equally or will one...
Council for Economic Education
Econ Ed Link: The Mitten
This is a folktale retold by Jan Brett about a little boy whose grandmother knits him a pair of snow-white mittens. While the boy is outside playing, he loses one of the mittens and some animals find it and move thinking that it looks...
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: Booker T. Washington:"fifty Cents and a Dream"
Young Booker T. Washington had a dream. That dream was to use the resources at his disposal to earn the money necessary to get an education that would allow him and others to become financially secure. This lesson based on the picture...
Council for Economic Education
Econ Ed Link: Trouble Is Brewing in Boston: "Colonial Voices Hear Them Speak"
It's December 16, 1773 and many of the citizens of Boston are furious with King George's new tax on tea. Young Ethan, a printer's errand boy, has been given the task of conveying information concerning an upcoming protest meeting. As he...
Council for Economic Education
Econedlink: Scarcity Video and Quiz
This video teaches the concept of Scarcity and includes a quiz. The total resources of society, including natural resources, human resources, capital goods and entrepreneurship, are limited, causing scarcity to exist. [1:13]
Council for Economic Education
Econ Ed Link: The Perfect Pet
Consider the economic concept of scarcity while selecting items to buy at a pet store.
Council for Economic Education
Econ Ed Link: The Perfect Pet
Interactive activity in which students learn how to deal with scarcity and the difference between wants and needs as they choose what to buy for their new pet fish with $5.00.
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: 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...
Other
Coursera 1 1.1. Scarcity and Its Implications
This module discusses fundamental problem of scarcity challenges us to think about an allocation mechanism to determine what is produced and who consumes it. It discuss scarcity and allocation mechanisms. In this course,the focus is on...
Council for Economic Education
Econ Ed Link: Economic Spotter: Resources During Wwii
This is a lesson plan that deals with scarcity during WWII. Natural, human, and capital resources are discussed.
Council for Economic Education
Econ Ed Link: Trade to the Tailor: Student Version
Students can use this site online in conjuction with the teacher's lesson plan, "Trade to the Tailor."
Council for Economic Education
Econ Ed Link: Rationalizing Transplants
This lesson encourages students to explain the consequences of a non-market rationing process, to evaluate the consequences of restricting organ transplants to U.S. citizens, and to suggest alternative policies to reduce the scarcity of...
Illustrative Mathematics
Illustrative Mathematics: Field Day Scarcity
Students will learn about managing money and scarcity while practicing addition and subtraction. They will be given a certain amount of money to spend at a fictitious store. Included are discussion questions about how students decided to...
Texas Education Agency
Texas Gateway: Ap Macroeconomics: What Is Economics, and Why Is It Important?
By the end of this section, you will be able to discuss the importance of studying economics, explain the relationship between production and division of labor, and evaluate the significance of scarcity.
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.
Texas Education Agency
Texas Gateway: Chapter 2: Choice in a World of Scarcity: Key Terms
This is a list of key terms and definitions covered in Chapter 2: Choice in a World of Scarcity from the TEA AP Macroeconomics online text.