Understanding Scarcity: An Introduction to Supply and Demand


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.

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

Lesson Plan Details:

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