lesson
Scarcity, Choice, and Opportunity Cost
Evaluate how individuals, businesses, and governments make trade-offs when resources are limited.
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Basic Economics, Markets, and Global Resources
10 lessons
Goal
Explain core economic principles including supply and demand, migration incentives, natural resource distribution, and global trade.
10 lessons
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- Natural Resources Across United States RegionsNot started yet
- Global Resources: Oil and Agriculture in World RegionsNot started yet
- International Trade and Global InterdependenceNot started yet
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- Scarcity, Choice, and Opportunity CostYou are here
Learning standards covered
SS.5.7West Virginia Social Studies Standards · All agesExplain the concept of supply and demand in specific historic and current economic situations in the United States (e.g., slavery, oil, gas, Industrial Revolution, etc.).
SS.5.9West Virginia Social Studies Standards · All agesAssess the resources (e.g., oil, land, gas, etc.) of the geographic regions (e.g., Midwest, Middle East, etc.) of the United States and the world and explain their impact on global economic activities.