EconEdLink

Related Lessons

Lesson: Forecasting Economics


Open for Business!

This engaging lesson gives students the opportunity to identify risks and rewards of entrepreneurship and distinguish between entrepreneurs who start a business to produce a good or provide a service.

Grades: 3-5
Published: 08/13/2014

Opportunity Cost - Consumers

When individuals produce goods or services, they normally trade (exchange) most of them to obtain other more desired goods or services. In doing so, individuals are immediately confronted with the problem of scarcity - as consumers they have many different goods or services to choose from, but limited income (from their own production) available to obtain the goods and services. Scarcity dictates that consumers must choose which goods and services they wish to purchase. When consumers purchase one good or service, they are giving up the chance to purchase another. The best single alternative not chosen is their opportunity cost. Since a consumer choice always involves alternatives, every consumer choice has an opportunity cost.

Grades: 3-5
Published: 12/31/2010

That's Not Fair! How Do We Share?

This lesson has students explore a variety of ways to share, particularly when an obvious solution is not apparent.

Grades: K-2
Published: 06/10/2002

Related Publications

The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.


Financial Fitness for Life: K-2 - Teacher Guide

This publication contains 16 stories that complement the K-2 Student Storybook. Specific to grades K-2 are a variety of activities, including making coins out of salt dough or cookie dough; a song that teaches students about opportunity cost and decisions; and a game in which students learn the importance of savings.

Grades: K-2
Published: 2010

16 out of 18 lessons from this publication relate to this EconEdLink lesson.

Playful Economics

Designed primarily for elementary and middle school students, each of the 15 lessons in this guide introduces an economics concept through activities with modeling clay.

Grades: K-8
Published: 2011

9 out of 17 lessons from this publication relate to this EconEdLink lesson.

Economics & Entrepreneurship: Operating a Classroom Business in the Elementary and Middle School

This revised and updated "how to" guide is a great way to start a classroom business with your students.

Grades: K-8
Published: 2008

1 out of 7 lessons from this publication relate to this EconEdLink lesson.