Grade 3-5, 6-8
,
Activity
Opening a Restaurant
Objective
Students will be able to:
- Evaluate the use of scarce resources.
Standard
National Standards in Economics
Decision Making
Standard: 2
- Students will understand that: Effective decision making requires comparing the additional costs of alternatives with the additional benefits. Many choices involve doing a little more or a little less of something: few choices "are all or nothing" decisions.
- Students will be able to use this knowledge to: Make effective decisions as consumers, producers, savers, investors, and citizens.
Scarcity
Standard: 1
- Students will understand that: Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
- Students will be able to use this knowledge to: Identify what they gain and what they give up when they make choices.
In this economics activity, students use scarce resources to plan the opening of a restaurant.
Resources
Procedure
This is a group activity where students will use a list of scarce and plentiful resources available to create a new restaurant in one of the following formats: Quizizz, worksheet, or the ReadyAssessments Activity. Students must keep in mind the plentiful and scarce resources in the region. Plentiful resources: vegetables, fruit, grains, sugar, chocolate, fish, cheese, spices Scarce resources: beef, pork, or chicken. To complete this activity, students need to follow the directions below:
- You and your groupmates want to open a restaurant. When opening your restaurant, you must keep in mind the plentiful and scarce resources in the region.Plentiful resources: vegetables, fruit, grains, sugar, chocolate, fish, cheese, spices Scarce resources: beef, pork, or chicken
- Go to the Restaurant Creation Quizizz, worksheet, or complete the ReadyAssessments Activity.