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Scarcity and Economics

Grade 345 min

aligned to 4.e.1.1 Explain The Ways In Which Scarcity Impacts Economic Decisions In North Carolina. 4.e.1.2 Explain Factors That Have Led To Economic Growth And Decline For North Carolina’s Major industries. 4.e.1.3 Explain Ways In Which Factors Of Production Are Influenced By The Availability Of Resources In North carolina.

Learning Objective

I can tell how scarcity makes people in North Carolina choose what they want most.

Lesson Flow

Watch Video

5 min

Scarcity for Kids

Unknown Channel

Practice

14 min

7 questions • Short answer

Exit Ticket

5 min

“Imagine there are only 5 slices of pizza left at a party, but 10 people want pizza. Explain why this is an example of scarcity. Suppose a store only has 2 of a popular video game left, but many people want to buy it. Explain why this is an example of scarcity. ”

Teacher Guide

Get the complete package:

  • Answer keys for all questions
  • Differentiation strategies
  • Extension activities
  • Printable student handouts

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