WHAT IS SCARCITY? VOCABULARY & WRITING, HIGHER LEVEL THINKING

Scarcity lessons for 4th and 5th graders should be engaging and insightful. This resource will be a perfect introduction. Start by explaining scarcity as the limited availability of resources compared to the unlimited wants and needs of people. Introduce examples like time, money, and natural resources to help students grasp the concept. You can add interactive activities such as role-playing scenarios where students have to make choices with limited resources, encouraging them to think critically about trade-offs and opportunity costs. Incorporate real-life examples and discussions on how scarcity affects decision-making at personal, community, and global levels, fostering a deeper understanding of economic concepts in a relatable context for their age group.

THIS RESOURCE INCLUDES:

• Video links on scarcity of resources with note taking templates
• Vocabularry work with templates for definitions
• Higher level thinking questions
• Writing Prompt