Allocation Strategies, Rational Decision Making, and Social Economic Goals
In this lesson, students learn to combine rational decision-making models, allocation strategies, and social economic goals
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Reading Q&A
16-30 min
Choices Are Everywhere: Why Can't We Just Have It All?
OVERVIEW
This reading assignment discusses opportunity costs and scarcity and how they affect our spending decisions. Every day, governments and individuals choose how much money to spend and what to purchase. Print the article.
Related Resources
LESSONS & ACTIVITIES
31-45 MIN
INFOGRAPHICS & COMICS
How Do I Use Economics In My Life?
Explore how economics is a part of students’ everyday lives.
VIDEO Q&A
16-30 MIN
Factors of Production
Explain the four factors of production.
AUDIO Q&A
0-15 MIN
Opportunity Cost
Introduce choice, scarcity, and opportunity cost.
VIDEO Q&A
0-15 MIN
There Is No Such Thing as a Free Lunch
Discuss scarcity, choice, and opportunity cost.
VIDEO Q&A
16-30 MIN
The Production Possibilities Frontier: Scarcity and Opportunity Cost
Explain how the production possibilities frontier (PPF) illustrates scarcity and opportunity cost.
More in This Series
READING Q&A
16-30 MIN
A Dollar's Worth: Inflation Is Real
Learn more about inflation, how it’s measured, and how the inflation rate is calculated.
READING Q&A
16-30 MIN
AI and the Future of Work: Opportunity or Threat?
Learn how AI can impact industries and affect jobs.
READING Q&A
16-30 MIN
Advertising: Dollars and Decisions
Review advertising history and strategies ads use to create demand.
READING Q&A
16-30 MIN
Advertising: Targets, Techniques, and Technology
Explain how advertising creates demand for products or services.
READING Q&A
16-30 MIN
All About the Business Cycle: Where Do Recessions Come From?
Introduce the business cycle and define its components.
READING Q&A
16-30 MIN
An Economic Guide to Giving the Perfect Gift
Learn how to use consumer surplus and social utility to measure a gift’s value.
READING Q&A
16-30 MIN
Banking Basics
Describe the differences between banks, online banks, and credit unions.
READING Q&A
16-30 MIN
Bankruptcy: When All Else Fails
Discuss earning income, budgeting, late payments, and collections.
READING Q&A
16-30 MIN
Baseball and the $700 Million Bet on the Time Value of Money
Explain the time value of money.
READING Q&A
16-30 MIN
Beyond Inflation Numbers: Shrinkflation and Skimpflation
Define shrinkflation and skimpflation.
