Scarcity and Opportunity Cost | Digital Learning Activity
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Description
Teaching economics can be difficult. Start your students off right by building their comprehension of scarcity and opportunity cost with this engaging and multi-faceted activity! Digital and Paper Copies Included!
This activity includes:
1) This "Scarcity and Opportunity Cost" Activity includes 4 parts. It begins with a colorful graphic organizer that asks your students to define basic terms and to explain concepts at the foundation of economic study. Next, students will compare and contrast trade-offs and opportunity costs, and then identify the trade-offs and opportunity costs of everyday decisions they make. Finally, students will use their knowledge and a collection of data provided to practice calculating the opportunity costs given up by consumers, firms, and government when they make decisions in markets.
This activity can be used in many different ways in the classroom. Students can work independently, in pairs, or this activity can be used as a jigsaw in order to facilitate a class-wide discussion about the topics discussed in the activity.
Answer Key is included!
This lesson is included in our Scarcity and Opportunity Cost Distance Learning Pack which includes everything you need to "plug and play" this lesson.
➙ Digital Lesson
➙ Hard Copy Lesson
➙ Access to our FREE video lecture on YouTube
➙ PowerPoint Presentation
➙ Keynote Presentation
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Topic 1.1 - Scarcity and Opportunity Cost
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