Scarcity and Opportunity Cost
The Economic Problem
Key Economic Concepts Made Easy
These worksheets and the PowerPoint were designed to assist with the teaching of key economic concepts that many students struggle with. These concepts have been simplified and broken down into more easily digestible chucks. Several charts have been incorporated in order to enhance learning through visual means. The PowerPoint supports and coincides with the worksheets. These material were designed for special education, ESL, and others students that may have difficulty with the complexity of economics.
Objectives: Students will be able to:
• Define scarcity and give examples.
• Explain how scarcity affects economic choices.
• Describe what the economic problem is and why it is important.
• Explain why and how each choice or purchase has a consequence and a value.
• Define opportunity cost and give an example.
Other learning materials you may find helpful:
PRODUCTIVITY AND SPECIALIZATION
Goods and Services, THE FOUR FACTORS OF PRODUCTION
Needs and Wants, WHY STUDY ECONOMICS?
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