Mrs Russell's Classroom 2022
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      • Fractions >
        • Fraction Wall
        • Equivalent Fractions
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      • Division
      • Odd/Even Prime/Composite >
        • Odd/ Even
        • Prime and Composite
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        • Place Value Lessons
        • Place Value Resources
      • Estimation & Rounding
    • Money
    • Place Value
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    • Ordering Numbers
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      • Time
      • Converting 24hr Time
      • Time -Task 2
      • Time =Task 3
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        • Time Word Problems 2
        • Word Problems-Time LS
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      • Basic Fact Practice
      • 6 x Tables
      • 7 x Tables
      • 8 x Tables
      • Multiplication Mash up
    • MEASUREMENT & GEOMETRY >
      • Mass
      • Length
      • Perimeter
      • Area >
        • Area of Irregular Shapes
        • Perimeter and Area Project
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        • Polyominoes
        • Transformations
        • Volume Squish
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      • Africa
      • Climate
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      • Rules and Laws
      • Levels of Government
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      • BTN-Kids Contribute
  • SCIENCE
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    • Year 4 Physical Science- Force and Motion >
      • Forces >
        • Contact and Non-Contact Forces
        • Air Resistance & Bouyancy
        • Forces- Magnetism
        • Balanced and Unbalanced Forces
    • Fair Experiments
    • Biological Science >
      • Plants and Photosynthesis
      • Food Chain Vs Food Web
      • Food Web Stations
      • Life Cycle Stations >
        • READ IT!
        • EXPLORE!
        • ORGANISE!
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      • Ecosystem/ Food Web Project
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  • Mother's Day
  • Code- Bad Guys
  • Materials Investigation
  • Angles Extension
  • Padlet
  • Narwals- Information Text
  • Growth Mindset
  • Special Days
  • Assembly
  • BTN- Glass
  • PAT

Scarcity & Opportunity Cost

Scarcity occurs when there is fewer resources than are needed to fill human needs and wants. Consumers need to make a decision as to what they choose to use their resources on. The opportunity cost of this decision is the value of the product that you have chose not to have.
These resources can  be natural, human or capital resources.
Scarcity is the basic economic problem.

Class Discussion:
What is Scarcity?
Can you think of a time during Covid that certain shopping items became scarce?

https://www.teacherspayteachers.com/FreeDownload/Opportunity-Cost-Economics-1348555

SUPPLY & DEMAND

Picture

TASK: POWTOON

Create a Powtoon presentation, with a partner, explaining the biggest economic problem, scarcity, to someone that has never heard of it before.Include: (5 Slides)
Slide 1 - Title
Slide 2 - A definition of scarcity.
Slide 3 - An example of scarcity that clearly explains each in a real life situation which would affect the community.
Slide 4 - A definition of opportunity cost
Slide 5 - An example of opportunity cost that clearly explains each in a real life situation which would affect the community.
*** Extra Slides can contain Consumers, Needs & Wants, Resources etc.
Picture
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  • Home
    • Assembly
    • Soap Box Competition
    • Brightpath
    • Creaney Dispositions
  • ENGLISH
    • Boggle
    • Spelling Activities
    • Year 4 English Curriculum
    • Amber Guardians- Book 1
    • Amber Guardians- Task 2
    • Year 4 English Judging Standards
    • The Firework-Maker's Daughter >
      • Door Display- FMD
    • Reading Comprehension
    • Writing >
      • Dialogue >
        • Leon and The Place Between
        • Task 1- Storyboard That!
        • Task 3- Direct and Indirect Speech Part 1 >
          • Task 3- Part 2
        • Task 2- Snack Attack
        • Task 4- Dynamic Dialogue
        • Task 1
      • Information Reports
      • Talk 4 Writing- Suspense >
        • Suspense Picture Prompts
        • Suspense Cold Task
      • T4W Mr Big- Characterisation >
        • Characterisation
        • The Most Magnificent Thing
        • Fronted Adverbials
        • Can you do better?
      • Writing Prompts
      • The Tree Giants
      • Newspaper Article
      • Talk 4 Writing- Narrative >
        • Character Descriptions
      • Persuasive Writing >
        • Persuasive Writing Task
        • Persuasive T4W Model Text
        • T4W: Persuasive Model Text
        • Introduction (Persuasive)
        • Rhetorical Questions
        • Hyperbole
      • T4W: Explanation Texts >
        • Auxiliary (Helping Verbs)
    • Novel Study >
      • Varjak Paw
      • Malamander >
        • Front Cover
    • Spelling >
      • Term 3 >
        • Week 1
        • Week 2
    • Fluency >
      • Term 2 Fluency Passages
      • Term 3 Fluency Passages
      • Term 4 Fluency Passages
      • 6 Minute Fluency
  • MATH
    • Year 4/5 Math WA Curriculum
    • Year 4/5 Math Judging Standards
    • NUMBER & ALGEBRA >
      • Fractions >
        • Fraction Wall
        • Equivalent Fractions
      • Inverse Operations
      • Division
      • Odd/Even Prime/Composite >
        • Odd/ Even
        • Prime and Composite
      • Factors and Multiples
      • Place Value >
        • Place Value Lessons
        • Place Value Resources
      • Estimation & Rounding
    • Money
    • Place Value
    • Arrays
    • Column Addition
    • Ordering Numbers
    • Time >
      • Time
      • Converting 24hr Time
      • Time -Task 2
      • Time =Task 3
      • Word Problems- Time >
        • Time Word Problems 2
        • Word Problems-Time LS
    • Math Fact Fluency- Why? >
      • Basic Fact Practice
      • 6 x Tables
      • 7 x Tables
      • 8 x Tables
      • Multiplication Mash up
    • MEASUREMENT & GEOMETRY >
      • Mass
      • Length
      • Perimeter
      • Area >
        • Area of Irregular Shapes
        • Perimeter and Area Project
      • Geometry- Angles >
        • Polyominoes
        • Transformations
        • Volume Squish
  • HASS
    • Year 4 HASS Curriculum
    • HASS Yr 4 Judging Standards
    • HISTORY >
      • Explorer Research
      • Endeavour
      • Dreaming with Eyes Wide Open
      • NAIDOC >
        • The Rabbits
      • Jandamarra
    • ANZAC Day >
      • Haiku Poetry
    • Geography >
      • Africa
      • Climate
    • Civics & Citizenship >
      • Rules and Laws
      • Levels of Government
      • Community
      • BTN-Kids Contribute
  • SCIENCE
    • Year 4 Science Curriculum
    • Yr 4 Science Judging Standards
    • Year 4 Physical Science- Force and Motion >
      • Forces >
        • Contact and Non-Contact Forces
        • Air Resistance & Bouyancy
        • Forces- Magnetism
        • Balanced and Unbalanced Forces
    • Fair Experiments
    • Biological Science >
      • Plants and Photosynthesis
      • Food Chain Vs Food Web
      • Food Web Stations
      • Life Cycle Stations >
        • READ IT!
        • EXPLORE!
        • ORGANISE!
        • EXTEND!
        • VOCABULARY!
      • Ecosystem/ Food Web Project
    • Chemical Science
    • Yr 4 Earth Space and Science >
      • Earth & Space Science Stations
      • Natural & Human Activities
  • DIGITAL TECHNOLOGIES
    • Year 4/5 Digital Technologies Curriculum
    • Net Smart Kids
    • Microbit
    • Peripheral Devices
    • Green Screen iMovie
    • Typing
    • Code
    • Dash & Dot
    • BINARY
    • Minecraft Edu >
      • Minecraft Hour of Code
      • Minecraft Comic Challenge
      • Inspiration Island
      • Minecraft- Starter Town
  • DESIGN TECHNOLOGIES
    • Design Technologies Curriculum
    • Designing/ Design Process
  • SEESAW- For Teachers
  • Minecraft Community
  • Biological Science
  • STEAM- CUPS
  • Personification
  • Mother's Day
  • Code- Bad Guys
  • Materials Investigation
  • Angles Extension
  • Padlet
  • Narwals- Information Text
  • Growth Mindset
  • Special Days
  • Assembly
  • BTN- Glass
  • PAT