Lesson Details

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:

  • Distribution
  • Economics
  • Production
  • Resources
  • Scarcity
Standards:
  • Standard #1: Scarcity
  • Standard #3: Allocation

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