Lesson Plan: Economics - Scarcity

Designed for Grades: 11-12

Estimated Time: 50 minutes

National Standards: Complies with NBEA Economics 2023 Standard I.1 Assess opportunity costs and tradeoffs involved in making choices about how to use scarce economic resources.

Objectives:

I.1.4 Define and give examples of scarcity.

I.1.5 Explain why scarcity requires individuals, governments, and societies to make choices that have present and future consequences.

I.1.11 Analyze how scarcity influences choices to consume or produce items.

Materials:

● White Board or Smart Board

● Scenario Dilemma Handouts

● Quiz (handout)