EconEdLink

Related Lessons

Lesson: That's Not Fair! How Do We Share?


A Perfect Pet

The introduction to this lesson is a brief online story about a little girl’s visit to a pet store with her father. She considers several pets before choosing a “cute and cuddly” dog. Students are reminded that pet owners are responsible for keeping their pets safe, healthy and happy. A discussion of a pet owners desire to provide the best for their pets leads to an exploration of people’s wants. The activities that follow challenge students to explore the wants of a pet owner and their desire to provide the best for their pet fish, and then the wants of a person. The students learn that the ability to discover their wants will help them establish priorities when they are faced with scarcity. During the evaluation process, students identify some of their personal wants. As a class, they discuss why some choices are the same and others are different. They take the discussion a step further exploring how their wants compare with those of siblings and adults in their lives. They discover that age, lifestyle, likes (tastes and preferences) and what one views as important (values) help to explain the differences.

Grades: 3-5
Published: 10/14/2004

Scarcity and Resources

This is a basic lesson of scarcity and resources that can be used for elementary students or students with special needs. Scarcity - is a condition that exists because human wants exceed the capacity of available resources to satisfy those wants; also a situation in which a resource has more than one valuable use. Students often get confused with the term resources. The basic kinds of resources used to produce goods and services: land or national resources, human resources (including labor and entrepreneurship), and capital. The following exercise gives the students a kinesthetic approach to the concepts of scarcity and resources. It is a musical chairs approach to learning these economic principles.

Grades: K-2
Published: 07/02/2012

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

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.

Energy, Economics, and the Environment: Case Studies and Teaching Activities for High School

This publication helps students analyze energy and environment issues from an economics perspective.

Grades: 9-12
Published: 2006

4 out of 6 lessons from this publication relate to this EconEdLink lesson.