The opportunity cost of a lifetime
http://www.econedlink.org/lessons/index.cfm?lesson=EM51&page=teacher
A lesson plan for Grade 4 Social Studies
About this resource
- Appropriate grades
- 4
- Subjects
- social studies (economics)
- Provider
- National Council on Economic Education
Legal
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All economic questions and problems arise from scarcity. Economics assumes people do not have the resources do satisfy all of their wants. Therefore, we must make choices about how to allocate those resources. We make decisions about how to spend our money and use our time. This EconomicsMinute will focus on the central idea of economics — every choice involves a cost.
North Carolina Curriculum Alignment
Social Studies (2003)
Grade 4
- Goal 6: The learner will evaluate how North Carolinians apply basic economic principles within the community, state, and nation.
- Objective 6.01: Explain the relationship between unlimited wants and limited resources.
- Objective 6.02: Analyze the choices and opportunity cost involved in economic decisions.
- Objective 6.05: Recognize that money can be used for spending, saving, and paying taxes.
