The Economic Way of Thinking · Economic Foundations

Scarcity and Choice

Investigating how limited resources force individuals and societies to make difficult trade-offs.

Key Questions

  1. 1What incentives are driving this behavior?
  2. 2What trade-offs does this policy create?
  3. 3How do we measure the cost of the path not taken?

Common Core State Standards

C3: D2.Eco.1.9-12C3: D2.Eco.2.9-12
Grade: 12th Grade
Subject: Economics
Unit: The Economic Way of Thinking
Period: Economic Foundations

Suggested Methodologies

Ready to teach this topic?

Generate a complete, classroom-ready active learning mission in seconds.

Generate a Custom MissionBrowse Lesson Plan Templates

More in The Economic Way of Thinking

Production Possibilities

Using the Production Possibilities Curve to visualize efficiency, growth, and underutilization of resources.

2 methodologies

Economic Systems

Comparing how market, command, and mixed economies allocate resources and define property rights.

2 methodologies

Browse curriculum by country

AmericasUSCAMXCLCOBR
EuropeUKIEFRDEESITNLPTSE
Asia & PacificINSGAU