The students will explore the ideas of scarcity and choices by exploring a virtual model of the Mayflower. They will then pack a virtual suitcase making good choices about what they pack.
This is a folktale retold by Jan Brett about a little boy whose grandmother knits him a pair of snow white mittens. While he is outside he loses one and some animals, one by one, find it and move in because it looks warm. This story demonstrates scarcity of space and what happens when this occurs.
By reading the book "A New Coat for Anna" students will learn about resources, scarcity, costs, trade/bartering, and decision making through a young girl, Anna, whose mother wanted to buy her a coat but did not have the money.
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 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.
16 out of 18 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 revised and updated "how to" guide is a great way to start a classroom business with your students.
2 out of 7 lessons from this publication relate to this EconEdLink lesson.