Making Economic Choices

In Social Studies the students have been learning about making economic choices. To help them understand the concept of scarcity, the students played "Musical Chairs." As they played, we discussed how everyone wants the same thing but there is not enough to go around. Therefore, the demand is high but the supply is low. We discussed that when there isn't enough of something, in particular money, then choices have to be made between what is needed and what is wanted.