Economic Choices

Civics The American Economy Economic Choices
Students explain how and why people make economic choices and explain the tradeoff in a given scenario. Then they examine a ballot measure and explain what is being produced, how, and for whom. Finally, they take a position on the ballot measure and explain the opportunity cost.

This learning experience is designed for device-enabled classrooms. The teacher guides the lesson, and students use embedded resources, social media skills, and critical thinking skills to actively participate. To get access to a free version of the complete lesson, sign up for an exploros account.

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Here are the teacher pack items for Economic Choices:

Preview - Scene 1
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Overview

In this experience, students explain how and why people make economic choices and explain the tradeoff in a given scenario. Then they examine a ballot measure and explain what is being produced, how, and for whom. Finally, they take a position on the ballot measure and explain the opportunity cost.

Objectives

  • Explain how and why people make economic choices.
  • Explain how opportunity cost, scarcity, and supply and demand impact economic choices.


Engage


a shopping cart full of groceries

In a previous lesson, you learned some important economic terms: supply, demand, scarcity, and opportunity cost. In this lesson, you are going to learn how these concepts help people make economic choices.

Objectives

  • Explain how and why people make economic choices.
  • Explain how opportunity cost, scarcity, and supply and demand impact economic choices.
Making good economic choices means you have considered the opportunity cost of each purchase.


Think about some economic choices that you have made lately. Then fill out the chart with a choice you made and the opportunity cost.


Ask for a few volunteers to explain their answers.


When everyone is ready to continue, unlock the next scene.

End of Preview
The Complete List of Learning Experiences in The American Economy Unit.
Civics The American Economy What Is a Market Economy?
What Is a Market Economy?
Civics The American Economy American Production
American Production
Civics The American Economy Economic Choices
Economic Choices
Civics The American Economy Living in a Global Economy
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Civics The American Economy The Government and Income Inequality
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Civics The American Economy The American Economy: Unit Review
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Civics The American Economy Government's Role in the U.S. Economy
Government's Role in the U.S. Economy
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The Federal Budget: Taxes and Spending
Civics The American Economy How Businesses Are Organized
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Civics The American Economy Budgeting Your Money
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Civics The American Economy Supply and Demand in a Market Economy
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Civics The American Economy Saving and Investing
Saving and Investing
Civics The American Economy Measuring the Economy
Measuring the Economy
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