Related Capstone Lessons

Unit 1: Lesson 2 - Scarcity and Abundance

The lesson provides students with two definitions of the term scarcity. They apply these definitions to several examples of human behavior. In the second part of the lesson they use the definitions to explain why people may treat scarce resources as if they were not scarce.

Concepts:

  • Choice
  • Scarcity
  • Alternative
Standards:
  • Standard #1: Scarcity

Unit 1: Lesson 4 - To Choose or Not to Choose? That Is Not the Question

Students make a decision after identifying the alternatives and their anticipated costs and benefits.

Concepts:

  • Choice
  • Scarcity
  • Alternative
  • Economizing Behavior
Standards:
  • Standard #1: Scarcity
  • Standard #2: Decision Making

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