Scarcity and Economics
Grade 3•45 minutes•4.E.1.1 Explain the ways in which scarcity impacts economic decisions in North Carolina.
4.E.1.2 Explain factors that have led to economic growth and decline for North Carolina’s major
industries.
4.E.1.3 Explain ways in which factors of production are influenced by the availability of resources in North
Carolina.
Learning Objective
I can tell how scarcity makes people in North Carolina choose what they want most.
Practice Questions
This lesson includes 7 practice questions to reinforce learning.
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1. What does it mean when something is scarce?
2. Give an example of something that might be scarce in your classroom or at home.
3. Imagine you only have enough money to buy one snack at the store. You really want both a candy bar and a bag of chips. Which one would you choose and why?
...and 4 more questions
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