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The Circular Flow Model of Economic Activity

Foundations of Economics and Economic Systems

9th Grade·Social Studies·US-CO-SS

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Diagram the flow of goods, services, resources, and money between households, businesses, and government.

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Foundations of Economics and Economic Systems

9th Grade · Social Studies · US-CO-SS

6 lessons

Goal

Understand core economic concepts including scarcity, opportunity cost, and efficiency, and compare how different economic systems allocate resources.

6 lessons

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Scarcity, Productive Resources, and the Economic ProblemUp next
Opportunity Cost and Marginal Decision-MakingNot started yet
The Production Possibilities Curve and Economic EfficiencyNot started yet
The United States as a Mixed EconomyNot started yet
Comparing Traditional, Command, Market, and Mixed EconomiesNot started yet
The Circular Flow Model of Economic ActivityYou are here

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Learning standards covered

SS.HS.3.1Colorado Social Studies Standards · All ages

Analyze how the scarcity of productive resources (land, labor, capital) forces choices to be made about how individuals, households, businesses, and governments allocate these resources.