In World War II pennies were made of steel and zinc instead of copper and women were working at jobs that men had always been hired to do. Why? Because during war times, scarcity forces many things to change!
Think about a difficult decision you have had to make. After you decided did it work out? Why or why not? Why do you think decisions and choices are hard to make? We make personal decisions and we make decisions as groups. There is a tool you can use to improve your decision making that will help you reach a better outcome.
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.
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.
This interdisciplinary curriculum guide helps teachers introduce their students to economics using popular children's stories.
23 out of 29 lessons from this publication relate to this EconEdLink lesson.
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.
9 out of 17 lessons from this publication relate to this EconEdLink lesson.
This publication contains 15 lessons that complement the 3-5 Student Workbook. Specific to grades 3-5 are a variety of activities, including a guessing game using clues to identify various occupations; the story Urban Mouse and Rural Mouse which teaches students about entrepreneurs and opportunity recognition; and a role-playing activity in which students learn which method of payment is appropriate in a variety of situations.
7 out of 17 lessons from this publication relate to this EconEdLink lesson.