Grade 3-5, 6-8, 9-12
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Video

Scarcity Video and Quiz

Time: 10 mins,
Updated: July 14 2025,
Author: Council for Economic Education
Teacher Version
Objective Standards Resources Description
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Objective

Students will be able to:

  • Understand the concept of scarcity.

Standards

State Standards

Concepts

Allocation, Scarcity, Wants and Needs

Resources

In this economics video, students will learn about scarcity and play a Kahoot! game.

Description

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. Play the Kahoot! game to test your skills! This multi-player quiz game reviews the concepts discussed in the video.

Subjects:
Economics

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