This simulation activity shows students a real life example of scarcity, abundance, and trade. It is easy to set up in the classroom and requires common supplies. At then end of the simulation students will work in their groups to relate the simulation to economic terms.
I always do this activity after reading about and explaining scarcity, abundance, and trading. I use my district’s Social Studies text, however, any economics text regarding these three terms would be helpful for students to understand.
Important vocabulary on this topic to know prior to this activity includes: resources, scarcity, trade, abundance, demand, supply, interdependence