Happy EconEdMonth! Celebrate economics all month long by visiting EconEdMonth.org

Grade 3-5, 6-8, 9-12
,
Video

Scarcity Video and Quiz

Time: 10 mins,
Updated: August 31 2023,
Author: Council for Economic Education
Teacher Version
Objective Standards Resources Description
Print

Objective

Students will be able to:

  • Understand the concept of scarcity.

Standards

State Standards

Concepts

Allocation 1, Allocation 2, Allocation 3, Goods and Services 1, Wants and Needs 2

Resources

In this economics video, students will learn about scarcity and play a Kahoot! game.

Description

This video teaches the concept of scarcity. The total resources of society, including natural resources, human resources, capital goods, and entrepreneurship, are limited, causing scarcity to exist. Play the Kahoot! game to test your skills! This multi-player quiz game reviews the concepts discussed in the video.

Subjects:
Economics

Related Resources

Grades K-2, 3-5

Curious George Economics

Use the lovable character Curious George to capture student attention while teaching about personal finance and economics.
Key Concepts: Factors of Production 2, Goods and Services 1, Productive Resources 1…
Lesson

Grades 9-12

Can You Allocate Ethically?

In Lesson #4 from the Ethics, Economics, and Social Issues curriculum, students work in groups to analyze allocation methods, apply...
Key Concepts: Allocation 1, Allocation 2, Allocation 3…
45 mins
Lesson

Grades K-2, 3-5

No Extra Room on the Mayflower

The students will explore the ideas of scarcity and choices by exploring a virtual model of the Mayflower. They will...
Key Concepts: Allocation 1, Allocation 2, Allocation 3…
Lesson