Explain choices caused by scarce resources
The idea
Scarcity occurs because resources are limited compared with the uses people want.
Step by step
- Scarcity occurs because resources are limited compared with the uses people want.
- Identify the actual limit: time, space, money or materials.
- A choice uses some resources and can leave other wanted options unavailable.
Example
Two wanted activities each take one hour, but the class has only one hour total. Which resource is limited?
Answer
time
The available hour cannot accommodate both full activities.
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Plan two activities for one hour. Identify the time limit and explain a trade-off.
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