This video teaches the concept of Scarcity. The total resources of society, including natural resources, human resources, capital goods and entrepreneurship, are limited, causing scarcity to exist.

Key Concepts

Cost/Benefit Analysis, Decision Making, Economic Systems, Opportunity Cost, Productive Resources, Scarcity, Trade-off, Wants


Trouble is Brewing in Boston - "Colonial Voices: Hear Them Speak"

It’s December 16, 1773 and many of the citizens of Boston are furious with King George’s new tax on tea. Young Ethan, a printer’s errand boy, has been given the task of conveying information concerning an upcoming protest meeting. As he makes his rounds through the city the reader is int...

Grades K-2, 3-5

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...

Grades K-2, 3-5

Toys for Me: A Lesson on Choice

Students encounter the concept of scarcity in their daily tasks but have little comprehension as to its meaning or how to deal with the concept of scarcity. Scarcity is really about knowing that often life is 'This OR That' not 'This AND That'. This lesson plan for students in grades K-2 an...

Grades K-2, 3-5

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 K-2, 3-5


Most high school students are comfortable using mobile phones. Many high school students use smartphones, such as iPhones, which are becoming part of our culture. It is also becoming more cost effective to use the broad range of smartphone services to cut down on other costs such as watches, game...

Grades 9-12


  • “I would love to embed the html code for this, and other videos, on my website so students can reference them. As a flipped classroom teacher I need to be able to cleanly link to the videos and it would bring more people to your site.

    EconEdLink: At this point the best option is to link to the lesson and/or site for the video. If it is a PBS video (Making Sen$e with Paul Solman you can link directly to the video on their site but you lose the Question ability from EconEdLink)”

    Kristoffer B., Shawnee, KS   POSTED ON August 13, 2012

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