Standards for Willy Wonka Allocates Golden Tickets

Name: Allocation

Standard: 3

• Students will understand that: Different methods can be used to allocate goods and services. People acting individually or collectively must choose which methods to use to allocate different kinds of goods and services.
• Students will be able to use this knowledge to: Evaluate different methods of allocating goods and services, by comparing the benefits to the costs of each method.

Name: Scarcity

Standard: 1

• Students will understand that: Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
• Students will be able to use this knowledge to: Identify what they gain and what they give up when they make choices.