1.9 Limited Resources in Economies
From EngageNY
People have many economic wants and needs, but limited resources with which to obtain them.1.9a Scarcity means that people's wants exceed their limited resources.
- Students will provide examples of scarcity by identifying wants that exceed resources.
- Students will examine choices that families make due to scarcity and identify costs associated with these choices.
- Students will examine how tools, technology, and other resources can be used to meet needs and wants.
Supporting Materials
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Starting a BusinessGot a great idea? So do Chloe, Andy, Mia, and Jamaal. Join them as the go from eating a cookie to starting their own cookie business. Discover how market research and a business plan can help you own and operate a business in your community. See how factors like scarcity and demand,... |
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What is Ecomonics?Explores the basic concepts of economics and viewers will learn about how people play an important role as both consumers and producers. Also discusses wants and needs, goods and services, and scarcity and demand. |
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