In this economics lesson, students will be introduced to the economic concepts of scarcity and limited resources. We will also discuss goods and wants. Students will be able to identify scarcity and explain how scarcity forces people to make choices. 
During this class, “The Mitten” by Jan Brett will be read aloud to the students. The story shows some ways in which things can go wrong when there isn’t enough of something to go around.  Students will sing and play games to learn about...