Ch 6: Scarce Economic Resource Markets Lesson Plans

About This Chapter

The Scarce Economic Resource Markets chapter of this course is designed to help you plan and teach the economics of scarce resources in your classroom. The video lessons, quizzes and transcripts can easily be adapted to provide your lesson plans with engaging and dynamic educational content. Make planning your course easier by using our syllabus as a guide.

Weekly Syllabus

Below is a sample breakdown of the Scarce Economic Resource Markets chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.

Day Topics Key Terms and Concepts Covered
Monday Resource markets Raw material, manufacturing and labor resources
Tuesday Product markets Roles of producers and consumers, the circular flow model
Wednesday Labor markets Factors affecting supply and demand in the labor market
Thursday Financial markets Capital, stocks, bonds and crowdfunding
Friday Land and natural resources Land supply, scarcity of nonrenewable resources

5 Lessons in Chapter 6: Scarce Economic Resource Markets Lesson Plans
Test your knowledge with a 30-question chapter practice test
Roles of Consumers & Producers in a Resource Market

1. Roles of Consumers & Producers in a Resource Market

When you go to the store, you are a consumer. However, did you know that chances are you've been a producer as well? This lesson explains how roles are reversed in resource markets.

The Labor Market in Economics

2. The Labor Market in Economics

Every wonder why a CEO with a bachelor's degree makes more than a teacher with a master's degree? As this lesson explains, labor is just like any other good in an economic world and is subject to supply and demand.

Using Financial Markets to Allocate Capital in Economic Systems

3. Using Financial Markets to Allocate Capital in Economic Systems

Every company wants to make money, but sometimes it takes money to make even more money. Just like many students use student loans instead of saving for years to go to college, firms have a number of ways to raise capital.

Land & Natural Resources: Scarcity & Allocation

4. Land & Natural Resources: Scarcity & Allocation

This lesson explores the importance of two very unique resources to economic development: land and natural resources. It explains how land can last forever, while some natural resources can run out. That said, both require expert management.

What is the Basic Economic Problem of Scarcity?

5. What is the Basic Economic Problem of Scarcity?

Why do we have to make choices and trade-offs? Why does it cost money to produce and consume the goods society wants? The answer is scarcity. Through this lesson, you will gain a better understanding of the concept of scarcity and why it forces us to make decisions and trade-offs everyday.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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