H.T.S. Crest Holy Trinity School
Grade 9 Business
Lesson Plan

Lesson #10:

During this class students will be introduced to the defining concepts which establish the foundation of economics.

Student will come to understand the following concepts:

At the conclusion of the class students will come to appreciate how the universal problem of limited resources and unlimited wants creates the problem of scarcity. The study of how societies deal with scarcity is in fact the study of economics.

Evaluation:

In groups of approximately four students, the class will explore the simulation entitled A Problem of Scarcity. This exercise will assist students in understanding the issues of scarcity, economic choice, and opportunity cost.

Resources: