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Scarcity Video and Quiz
Source: Council for Economic Education (EconEdLink) | Type: Interactive Tool
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.
Grades:
Concepts:
- Cost/Benefit Analysis
- Decision Making
- Economic Systems
- Opportunity Cost
- Productive Resources
- Scarcity
- Trade-off
- Wants
Standards:
- Economics 1: Scarcity
- Economics 2: Marginal Cost/Benefit
- Economics 3: Allocation of Goods and Services
- Economics 4: Role of Incentives
Related Resources:
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