Overview : Students will explore how limited resources restrict the goods and services that people may want and how consumers must choose some things and giv

 Overview : Students will explore how limited resources restrict the goods and services that people may want and how consumers must choose some things and give up others. Students will consider systems and means created to meet and manage the issue of scarcity.

Standard

E.03 Explain reasons for voluntary exchange, including positive and negative incentives.

– explain voluntary exchange

– Illustrate that individuals engage in voluntary exchange because both parties are better off by doing so

– create a circular flow diagram and explain the different components 

– Describe both positive and negative incentives 

*include vocabulary slide

Please break down the standard so that it will not be so broad .  Any extra is appreciated 

**Create a teachable power point to go along with the standard. Suitable for high school. No set amount of slides, just enough to get me through a 90 min class