Collection
Teaching the Fundamentals: Scarcity, Opportunity Cost, and Decision Making for Elementary School

Lesson

Content Partner

Costs and Benefits of Beans' Decisions

In this economics lesson, students will make decisions using a cost-benefit analysis.
Key Concepts: Cost-Benefit Analysis, Marginal Analysis

Intro to Scarcity

In this economics lesson, students will sing and play a game to learn about scarcity.
Key Concepts: Allocation, Allocation, Allocation…

The Grasshopper and the Ant

Understanding the concept of opportunity cost is critical for good decision making. The ability to identify the opportunity cost—the highest...
Key Concepts: Balance of Payments, Cost-Benefit Analysis, Goods and Services…

Activity

Content Partner

PBS-NOVA Financial Lab

Managing money is hard! Even when you know what you should do, it can be hard to actually do it....
Key Concepts: Budgeting/Money Managment

Free publication

Personal Finance Printables

In this personal finance activity book, students will complete one-page handouts including sing-a-longs, matching, and drawings.
Key Concepts: Budgeting/Money Managment, Cost-Benefit Analysis, Marginal Analysis

Video

Scarcity Video and Quiz

In this economics video, students will learn about scarcity and play a Kahoot! game.
Key Concepts: Allocation, Allocation, Allocation…

Opportunity Cost Video and Quiz

In this economics video, students will learn about opportunity cost and play a Kahoot! game.
Key Concepts: Cost-Benefit Analysis, Marginal Analysis

Professional Development