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Foundations of Economics: Scarcity, Incentives, and Markets

3rd Grade · Social Studies · US-CO-SS

8 lessons

Goal

Understand how scarcity and opportunity cost guide choices, how incentives shape human behavior, and how supply and demand determine prices.

8 lessons
0 of 8 done
  1. Scarcity: Wants Versus Needs and Making ChoicesUp next
  2. Opportunity Cost: What You Give Up When Making a ChoiceNot started yet
  3. Calculating Opportunity Costs in Daily DecisionsNot started yet
  4. Understanding Positive Economic IncentivesNot started yet
  5. Understanding Negative Economic IncentivesYou are here
  6. How Incentives Shape Producer and Consumer BehaviorNot started yet
  7. Goods, Services, and the Factors of ProductionNot started yet
  8. Supply, Demand, and Market PricesNot started yet
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Learning standards covered

us-coSS.4.3.1Colorado Social Studies Standards · All ages

Explain how people respond to positive and negative incentives.