Lesson 4

We had a student trying our class for the first time today; a great opportunity to review and share what we have learned so far this year in Economics!  Next, we defined Scarcity and equated it to low supply of goods or services.  Students then read several scenarios and had to classify them as having scarce resources or not scarce.

Finally, we discussed the 3 broad/general categories of resources businesses need to provide goods and services:  Human Resources; Natural Resources; Capital Resources.

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Your students are enthusiastic; eager to learn and respectful.  You should be proud of them! 

Homework:

Human Resources worksheet in their green folders.  They should list several human resources needed at a school, store and hospital (at least 5 for each!).  Next week (9/7) we don't have class (Labor Day). The following week (9/14), we will compare and combine our lists!