Scarcity

We want more than there is, so we choose.

Warm-up, learn, try it together, practice, then a quick check. About 15 minutes.

What children learn in Level 54

People want lots of things: toys, treats, games, and trips. But there isn't enough of everything for everyone.
Scarcity is when people want more than there is. Look: 5 kids each want a cookie, but there are only 3 cookies.
When something is scarce, people have to choose. The kids might take turns, share, or pick something else.
Money can be scarce, too. If you have $5, and a book and a ball each cost $5, you have to choose one.
Your turn! 6 kids each want a kite. There are 4 kites. Is that scarcity? Yes! 2 kids will not get one.
Try it with a grown-up! Make a list of three things you want. If you could have only one, which would you choose?

Georgia Standards of Excellence in Social Studies:

SS1E2 — Explain that scarcity is when unlimited wants are greater than limited resources.