Day 14 Scarcity

Screen Shot 2022-03-08 at 5.37.40 AM.png

Scarcity

Introduction

 

 

Hello Third Graders!  Let's talk about the word scarcity.  Scarcity is when there are not enough goods to meet people's wants.  Scarcity comes from the word scarce.  Something is scarce when there is not a lot of it or it isn't always available. Below you will review an anchor chart that has a few scarcity situations.  As you review, think about how you might feel if the good or service YOU wanted was not available.

Screen Shot 2022-04-04 at 3.27.31 PM.pngVisual

As you look through each situation, think about the good or service that is being offered and how many consumers will get the good or service and how many will not.

There were 10 friends at the party but there were only 8 slices of pizza. The store had 100 copies of the newest baseball card, but there were 150 people in line to buy it. The best concert is coming to town and there are 30 free tickets, but there are 300 people attending the concert.

 

Screen Shot 2022-04-04 at 3.27.31 PM.pngWatch, Listen & Answer

Watch the video below to review our lesson on scarcity.  Answer the questions as they appear throughout the video.  Pay close attention to the details of the story. 

 

 

Scarcity Cat (Supply and Demand) Links to an external site.

[CC BY 4.0] UNLESS OTHERWISE NOTED | IMAGES: LICENSED AND USED ACCORDING TO TERMS OF SUBSCRIPTION