EconEdLink

Related Lessons

Lesson: The Mitten


Vincent van Gogh's 'Flower Beds in Holland'

Students study a painting by van Gogh called, "Flower Beds in Holland." The students recognize that this farmer made a choice to grow flowers instead of another crop. Students are introduced to the concepts of choice and opportunity cost.

Grades: K-2
Published: 02/15/2002

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

Booker T. Washington:"Fifty Cents and a Dream"

Young Booker T. Washington had a dream. That dream was to use the resources at his disposal to earn the money necessary to get an education that would allow him and others to become financially secure. This lesson based on the picture book "Fifty Cents and a Dream: Young Booker T. Washington" by Jabari Asim challenges young students to make connections between history and economic concepts.

Grades: 3-5
Published: 11/01/2013

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

18 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

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

Financial Fitness for Life: K-2 - Student Storybook

This publication contains 16 stories that complement the K-2 Teacher Resource Manual. 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

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