Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.
Students will engage in a simulation that will emphasize the inevitable problem of scarcity. The students will participate in the activity in order to physically interact with the problem of scarcity.
Included in Product:
1. Teacher Instructions for activity
2. Power Point for the activity