Unit 1: Lesson 3 - Economic Magic: Creating Something from Nothing Students participate in a small-group survival activity designed to illustrate the basic economic decisions people in every economy must address. They must decide which resources are scarce and they must answer three basic questions: What to produce? How to produce it? For whom will it be produced? Concepts: - Production
- Scarcity
- Resources
- Distribution
- Economics
Standards: - Standard #1: Scarcity
- Standard #3: Allocation
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