
Economics for Kids
Scarcity and Opportunity
For Kids
What is scarcity? Scarcity describes a situation in which the demands of people outweigh the resources on hand. Scarcity forces people to make choices.
-
A want: You might want something but not be able to afford it. That would be an example of scarcity of personal funds.
-
A need: Some people in the world are suffering because they need safe water to drink, but there is a scarcity of safe drinking water.
Scarcity simply means there is not enough go around. Scarcity can create an opportunity for invention, new sales, substitutions, sharing, or a chance to solve a problem of need.
For Kids - Free Online Interactive Games
What is scarcity? (cartoon video for kids from the St Louis Fed)
Scarcity and Opportunity YouTube cartoon
Scarcity and Opportunity Cost Flash Card game
Scarcity and Opportunity - Drag and Drop
Find the Match, Gameshow, Quiz games
Scarcity for Kids (cartoon video)
Scarcity and Opportunity Cost for Kids (cartoon video)
Scarcity and Choice for Kids (cartoon video)
For Teachers - Free Use Lesson Plans, Classroom Activities
Monster Musical Chairs (Grades K-1)
Something from Nothing (Grades 3-5)
Toys for Me - A lesson on choice
Scarcity Classroom Activities for Kids
Scarcity and Choice (cartoon video)
What is scarcity (download, free worksheet)
Shortage, Surplus, and Prices (download, free worksheet)
HS (9th - 12th) - What is Economics? A lesson on choice and scarcity with Role Play directions
See Also: Economics Lesson Plans
Free to Use Original Clipart for Economics for Kids and Teachers