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Economics: The Scarcity Principle
Students discover how scarcity leads to economic choices. They examine its effect on individuals, business, and governments. Students simulate various scenarios to determine the role scarcity plays in each.
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Beach Burgers
Twelfth graders develop economic literacy of basic economic problems confronting all societies. Economic decision making, scarcity to make choices, economic confronts, market system, prices, demand curves and supply curves are all covered.
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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...
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What is Economics?
Students define economics and explain the importance and process of making economic choices and decisions. Students participate in four lessons revolving around economics and select activities to complete.
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Economic Activity and Markets
Young scholars identify and interpret that economic activity involves making choices in the face of scarcity, therefore making choices involves a cost. They also identify that individuals interact in markets by inducing one another,...
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Scarcity and Opportunity Cost - To Choose Is To Refuse
Students are introduced to scarcity and opportunity costs. They discuss how different societies allocate their resources differently based on their needs. Illustrating trade offs, they create a production possibility frontier. They...
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Introduction to Economics
Students 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.
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Location of Resources in Early Civilizations
Sixth graders define scarcity and opportunity costs.
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Road To Roota
Did you know that there are comic books that can help learners discover economic concepts like supply and demand. The format of this lesson plan is highly engaging and enables them to discover how economics can be an exciting field of...
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Economic Decisions
Students practice decision-making skills by planning vacation, including all proposed expenses. Students distinguish between needs and wants, identify difference between goods and services, and describe economic resources used in...
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Prioritizing National Economic Goals
Eighth graders define the generally accepted list of national economic goals. They discuss the compatability/incompatibility of goals. They participate in a consensus-building exercise to rank economic goals in order of importance.
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You Can't Have it All
In this economic worksheet, 7th graders read about the ideas of choice as well as scarcity for producers and consumers. Students then complete three activities based on economic choices.
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Economic Forces
Students 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...
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The Economy
Students explore the role of government in the economy market. In this economics lesson, students analyze the decision making and how it takes into consideration additional cost, benefits and public awareness of what they are trying to...
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The Game of Business
Young scholars practice the economic concepts of scarcity and opportunity cost. They imagine creating their own businesses and brainstorm what they need to know in order to determine when the business is profitable.
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Supermarket Smarts
Pupils examine how a consumer can make informed choices. They visit stores with a prepared shopping list, record the prices on a spreadsheet, create graphs, and create a Powerpoint presentation comparing the total cost of stores and a...
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Trade Offs and Opportunity Cost
Students explore the role of government in the economy market. In this economics lesson, students analyze the decision making and how it takes into consideration additional cost, benefits and public awareness of what they are trying to...
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Poverty and Natural Disasters: Exploring the Connections
Students explore the connections between natural disasters and poverty. In this economic lesson students examine worksheets and activities for each level.
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,...
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Making Choices With Scarce Resources
Students examine the role of scarcity and how to allocate resources. They describe examples of opportunity costs and tradeoffs. They choose a service project based on a cost and benefits analysis. They finally evaluate the impact of the...
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Teaching Economics Using LUNCH MONEY
Students, after reading the book "Lunch Money" by Andrew Clements, explore money and different saving places. They research different ways in which productivity has increased over the years, they examine products to determine if the...
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Economics: People as Producers and Consumers
Students examine the dual roles of producers and consumers in people by creating fictional stories that include examples of both. Their stories include descriptions of the tools and skills needed for the jobs of their characters and...
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Spend, Save, Invest or Donate
Students explore the concept of philanthropy. In this personal finance lesson, students consider economic choices and why people donate to causes. Students investigate the processes of borrowing money and investing money in the lesson as...
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Marketing Occupations
Students identify and explain the variables effecting supply and demand in the marketing industry. Then they define the terms supply and demand and graph supply and demand curves on a standard grid. Students also formulate what happens...