Intro to Economics

This lesson aims to introduce students to the economic concept of scarcity and how it leads to the necessity of making choices. Understanding scarcity and choice is essential for comprehending broader economic principles as these concepts underline all economic decisions, both at individual and societal levels. This lesson will encourage students to think critically about how resources are allocated and how these decisions impact lives.

In this lesson, students will explore the fundamental concepts of supply and demand, their interactions, and how these economic forces determine prices within a market economy. They will examine real-world scenarios to see how changes in supply and demand affect equilibrium prices and quantities.

This lesson aims to provide students with an understanding of the various roles that government plays in economic systems. By examining specific functions such as regulation, taxation, and the provision of public goods, students will gain insights into how governmental actions impact the economy. They will engage in discussions and activities to better conceptualize these roles in real-world contexts.