In this lesson, students will explain why they cannot have everything they want because of scarcity and explain how all choices have costs. An interactive poem is included and discussion questions.
Students will learn about supply and demand and how it impacts their personal lives as well as their future careers.
In previous grades you’ve learned a little about economics and that economics deals with choices. We all make choices every day. We make choices about what to buy. We make choices about whether to save or spend money. You will learn in this chapter that economics is about more than just choices. Economics is the study of how individuals and societies use resources to produce goods and services. It is about competition and prices and trade. As you learn you will be working as an economist, someone who studies economics.
This resource is a copy of remarks delivered by the Hon. Caspar W. Weinberger, Secretary of Defense, to the National Press Club in Washington, D.C.
In this lesson, students will recognize that farmers can’t grow everything they might want to grow; they must choose which crops to grow and discover that the crop that is not grown is the opportunity cost.
This resource tells the history of the World Trade Organization.
In this lesson students learn how they and family members fulfill the roles of consumer and producer at home and in their community. They begin by exploring the goods and services that people use and they identify those that are businesses and require the payment of money. An interactive is provided for students to identify the goods and services that have to be purchased.
This economics lesson provides students with a chance to get creative and think outside the box. Doing so will not only help them understand economics but also to plan their own finances. Students participate in an experiment involving kool aid and a shortage. Questions are provided to prompt students to find a solution to the scarcity issue.
This resource provides information on how people are counted as unemployed.
In this unit, students are introduced to how people earn money, save money, spend money, and donate money.
In this video clip, the Karimkhani sisters share how they became entrepreneurs by doing something they love.
In this video clip, learn about a social entrepreneur who raised money for playground equipment.
In this video clip, learn about a youth who started a company producing and selling baseball bats.
This is an encyclopedia entry for the term "swamp," described as an area of land permanently saturated, or filled, with water. Text for this entry is appropriate for the middle and high school grade levels.