Understanding Scarcity: An Introduction to Supply and Demand
Submitted By:Michael Ryan Moore, University of Pennsylvania, GSE
Date:June 3, 2011
Subject(s):Economics, Personal Finance
Grade Level(s):9, 10, 11, 12
This lesson is an introduction to formal Economic theory. In this lesson, students will be introduced to the concepts of supply, demand and scarcity. Using the article “Falling Behind: Working Women in Germany Grapple with Limited Child-Care Options,” students will think about the relationship between scarce resources and individual decision making. As part of this lesson, students will be introduced to supply and demand curves.
Economics, I. Allocation of Resources
Personal Finance, I. Personal Decision Making
Lesson Plan Details:
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