Scarcity and Opportunity Cost
Introduce the term "scarcity".
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Lessons & Activities
31-45 min
Nizzy and Cooper's ABC Adventure (Lesson 2)
OVERVIEW
In this lesson, students learn what goods and services are. They listen to the story Nizzy and Cooper’s ABC Adventure. Students categorize goods and services labeled on alphabet cards. They learn a song about goods and services.
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
46-60 MIN
Betty Bunny Wants Everything (Lesson 1)
Learn about wants, choice, and scarcity.
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.
