Scarcity and Opportunity Cost
Introduce the term "scarcity".
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Lessons & Activities
46-60 min
Betty Bunny Wants Everything (Lesson 1)
OVERVIEW
Students learn about wants, choice, and scarcity. They listen to the story Betty Bunny Wants Everything and identify all the wants that Betty Bunny has at the toy store. They practice making choices by selecting a treat they want, a toy for one of the book characters, and finally a school item.
Related Resources
VIDEO Q&A
0-15 MIN
LESSONS & ACTIVITIES
46-60 MIN
Tortilla Factory
Differentiate between productive resources and intermediate goods.
LESSONS & ACTIVITIES
46-60 MIN
Production Profit and Loss
Calculate total revenue and profit or loss.
LESSONS & ACTIVITIES
46-60 MIN
The Berenstain Bears: Get the Gimmies
Identify the problem of scarcity, and recognize their opportunity cost.
LESSONS & ACTIVITIES
46-60 MIN
Something From Nothing
Students make a choice and state the opportunity cost of their decisions.
LESSONS & ACTIVITIES
1 HOUR+
Ox-Cart Man
Simulate the circular flow of the economy.
More in This Series
LESSONS & ACTIVITIES
1 HOUR+
Kiddynomics: An Economics Curriculum for Young Learners, Lessons for Grades Pre-K-K
Introduce young children to the economic way of thinking.
LESSONS & ACTIVITIES
31-45 MIN
Nizzy and Cooper's ABC Adventure (Lesson 2)
Students learn what goods and services are.
LESSONS & ACTIVITIES
31-45 MIN
An Orange in January (Lesson 3)
Learn about the economic concepts of consumer and producer.
LESSONS & ACTIVITIES
31-45 MIN
Just Saving My Money (Lesson 4)
In this lesson, students learn about banks and money.
LESSONS & ACTIVITIES
31-45 MIN
Saving, Spending, and Income: Save It! (Lesson 5)
Learn about income, saving, and spending.
