Grade 3 · Social studies
Explain choices caused by scarce resources
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Example & extra help
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A group has $10 and wants two items costing $8 each. Which resource is limited?
- materials
- money
- time
- space
See the answer & why
money
The total desired cost is $16, more than the $10 available.
A little hint: Scarcity occurs because resources are limited compared with the uses people want.
Scarcity occurs because resources are limited compared with the uses people want.
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