Professional Documents
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Differentiating Instruction
Teacher:
Heidi Mingle
I. Objectives
What is the main focus of this lesson?
For students to identify scarcity and the opportunity cost within different situations.
How does this lesson tie in to a unit plan? (If applicable.)
Students are continuing to look deeper into the working economy around us.
What are your objectives for this lesson? (As many as needed.) Indicate connections to
applicable national or state standards. If an objective applies to only certain students write the
name(s) of the student(s) to whom it applies.
SWBAT
1) Define scarcity and opportunity cost
2) Compare situations to determine the level of scarcity and identify the opportunity cost.
Standards
4 E1.0.2 Describe some characteristics of a market economy (e.g., private property rights, voluntary
exchange, competition, consumer sovereignty, incentives, specialization).
4 E1.0.3 Describe how positive and negative incentives influence behavior in a market economy.
4 E1.0.4 Explain how price affects decisions about purchasing goods and services (substitute goods).
CCSS.ELA-LITERACY.RI.4.1 Refer to details and examples in a text when explaining what the text says
explicitly and when drawing inferences from the text.
II. Before you start
Prerequisite knowledge
and skills.
Assessment
(formative and
summative)
Identify those students
(individuals or groups) in
your class who will need
special attention and
describe the level of
support you plan on
giving them. Refer back
to the survey you did of
your class.
Students should know that resources are not infinite and they do run out.
Students will work through the Decisions, Decisions! handout and they will
check their answers with the rest of the class. Not every question has a
correct answer.
Students will work in small groups as well as in large group
Materials-what materials
(books, handouts, etc) do
you need for this lesson
and do you have them?
TCI Textbooks
Decisions, Decisions! handout
Economics Packet
Students will work in groups at their desks to answer the questions on the
Decisions, Decisions! paper
The description of (script for) the lesson, wherein you describe teacher
activities and student activities
Today we are going to talk about something called scarcity and opportunity cost!
Take out TCI Textbook and read page 250
Go into the Economics Packet and fill in the definition blanks for Scarcity and
Opportunity Cost.
Scarcity: When you dont have enough of what you need
Opportunity Cost: What you give up when you make a choice.
Give students some examples:
When we want to by two things but can only afford to buy one. Our money is scarce.
The item we do not buy is our opportunity cost.
Developm
ent
Closure
Your reflection on the lesson including ideas for improvement for next time: