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Lesson Plan Scarcity OpportunityCost Wellspring

This lesson plan for an AP Economics class focuses on the concepts of scarcity, trade-offs, and opportunity cost over a 35-minute duration. Students will engage in activities to define key terms, discuss real-life applications, and analyze a case study. Assessment will be based on participation, understanding during discussions, and exit ticket responses.

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Vu Hoang Alexis
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3 views2 pages

Lesson Plan Scarcity OpportunityCost Wellspring

This lesson plan for an AP Economics class focuses on the concepts of scarcity, trade-offs, and opportunity cost over a 35-minute duration. Students will engage in activities to define key terms, discuss real-life applications, and analyze a case study. Assessment will be based on participation, understanding during discussions, and exit ticket responses.

Uploaded by

Vu Hoang Alexis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Lesson Plan – Scarcity & Opportunity

Cost
Class: AP Economics

Topic: Scarcity, Trade-Offs, and Opportunity Cost

Duration: 35 minutes

Objective: Students will understand the concepts of scarcity, , trade-offs, and opportunity
cost, and apply them to real-life situations.

I. Learning Objectives
 - Define scarcity, needs, and wants.
 - Explain the concept of trade-offs and opportunity cost.
 - Identify causes of scarcity and strategies to deal with it.
 - Apply opportunity cost to real-world and personal decision-making.

II. Lesson Structure


Time Activity Description
5 min Engage – Warm-up Activity Would You Rather…?
(iPhone vs. Korea Trip,
Study in VN vs. US)
3 min Introduce Economics Definition, Needs vs. Wants
(slide examples with icons)
4 min Explain Scarcity Causes and Real-Life
Student Examples (time,
money, school resources)
5 min Discuss Trade-Offs Definition and relatable
choices (Bridge vs. School,
Sleep vs. Study)
8 min Opportunity Cost Explain with visual
examples and simple
phrases
6 min Case Study Mr. Tuan's clothing store –
discuss implicit cost (rent)
3 min Wrap-up Discussion What was your biggest
opportunity cost this week?
2 min Exit Ticket or Sharing
III. Materials and Tools
 - PowerPoint slides (pre-made with icons, examples, case study)
 - Whiteboard/Markers or Digital board for brainstorming
 - Exit ticket handout or sticky notes

IV. Assessment
 - Student participation in discussion and 'Would you rather' activity.
 - Correct understanding during case study analysis.
 - Exit ticket answers reflect understanding of opportunity cost.

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