SS10.2.8

Social Studies (2010) Grade(s): 2

SS10.2.8
Describe how scarcity affects supply and demand of natural resources and human-made products.

Unpacked Content

Knowledge

Students know:

Definition and examples of scarcity.
Definition and examples of surplus.
The concepts of supply and demand.
The difference between natural resources and human-made products.
Vocabulary: scarcity, supply, demand, natural resources, human-made products, shortage, surplus, cost, price, perishable, expiration

Skills

Students are able to:

Describe the effects scarcity has on supply and demand, including the effects of surplus.
Explain the effects of a scarcity of natural resources, including a perception of surplus.
Explain the effect of scarcity on human-made products, including the effects of surplus.
Describe how the expiration of perishable goods can affect price.

Understanding

Students understand that:

Scarcity affects supply and demand.

Vocabulary

scarcity
affects
supply
demand
natural resources
human-made products

COS Examples

Examples: cost of gasoline during oil shortages, price and expiration date of perishable foods

Aligned Learning Resources

Blackbeard the Pirate (Resources are Limited) | $martPath

Good Boy! (Goods vs. Services) | $martPath

Scarcity Cat (Supply and Demand): $martPath

Design by Adaptive Theme