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 will...
Council for Economic Education
A Perfect Pet
Students read the story "The Perfect Pet". They examine how scarcity is a problem in society when people can not have everything they want which forces them to make (economic) choices.
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
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...
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
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
Scarcity, Choice and Decisions
Students study the basic economic trilogy (scarcity, choice, and costs). In this money management lesson, students use a scenario of a High School Prom to calculate how scarcity, choice and cost apply by completing provided worksheets...
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...
Curated OER
Economic Goals and Measuring Activity
Explore the role of government in the economy market. Young scholars analyze the economic decision-making process and how it takes into consideration additional cost, benefits, and public awareness of what they are trying to accomplish....
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
What is Economics?
Students define economics; Explain the importance and process of making economic choices and decisions; Identify the factors of Production; Determine the goal of entrepreneurship. Students identify and describe the difficulties...
Curated OER
Money Smart Choices
Students make choices regarding money management. In this personal finance lesson, students explore budgets, incomes, and expenses as they learn vocabulary regarding personal finance and consider how to create personal budgets.
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.
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
Scarcity and Choice
High schoolers 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...
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...
Curated OER
Popcorn Economics
Students examine the concept of scarcity. In this economics lesson, students define scarcity and take part in an activity that illustrates the concept as it relates to goods and services.
Curated OER
Food Insecurity
Explore food insecurity and resource scarcity with your class. They discuss the sharing of scarce resources, how to be good caretakers of these resources, and how choices impact the entire world.
Curated OER
Economics
Fourth graders study the effects of economics in their daily life. In this economics lesson plan, 4th graders construct a list of wants and needs if they had an unlimited supply of money. Students discuss how economics help people make...
Curated OER
Scarcity and Choice: Mercantilism - the relationships between England, Africa, and the Americas
Students trace the meaning and importance of mercantilism; past and present.
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...
Curated OER
Money and Credit: Making Good Decisions
Students participate in activities that teach them how to manage money. In this managing money lesson plan, students set long and short term goals for economic success by having discussions, identifying benefits of saving, and...
Curated OER
Introduction to Economics
Students demonstrate an understanding of the concepts of unlimited wants and limited resources. They participate in an activity using money to purchase goods and services. Students evaluate benefits and costs resulting from personal...