Limited Resources — Thinking about Choice and Scarcity

Overview:

This lesson provides a brief introduction to formal economic theory. Using the article “How the U.S. Government Has Mismanaged the Country,” students will think about limited resources from the perspective of a national government. Students will make choices about welfare programs, national defense and consumer spending. Throughout the lesson, students will think about economics as the study of choice under scarcity.

NBEA Standard(s):
  • Economics, I. Allocation of Resources
  • Personal Finance, I. Personal Decision Making

Lesson Plan Details:

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