Scarcity and Opportunity Cost
Introduce the term "scarcity".
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Lessons & Activities
1 Hour+
Monster Musical Chairs
OVERVIEW
In this lesson, students listen to the story and identify the scarcity problem the monsters had—not enough chairs for every monster to have one. Students learn that a good can satisfy a want and that, because of scarcity, not everyone's wants are satisfied.
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VIDEO Q&A
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Fifty Nifty Econ Cards
Use these vocabulary cards in your classroom to make economics and personal finance fun!
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The Bridge Home
Introduce basic economic concepts like decision-making, opportunity cost, and employment.
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Tortilla Factory
Differentiate between productive resources and intermediate goods.
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Rock, Brock, and the Savings Shock
Learn about decision-making, scarcity and opportunity cost.
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Betty Bunny Wants Everything (Lesson 1)
Learn about wants, choice, and scarcity.
