Social Studies Worksheet · Grades 3–5
Scarcity and Choice Worksheet
A free printable social studies worksheet for grades 3-5 on scarcity and choice: because resources are limited but wants are unlimited, people must choose, and every choice has an opportunity cost. Students decide whether eight resources are scarce, then answer six short questions. A complete answer key is included.
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Subject
Social Studies
Grades
Grades 3–5
Skill Focus
Scarcity and Choice, economics
Lesson Length
20 minutes
Lesson Overview
About this worksheet
Scarcity is the starting idea of all economics: people have unlimited wants but only limited resources, so they must choose. Every choice has an opportunity cost – the next-best thing given up. This worksheet makes those abstract ideas concrete for elementary students using resources and decisions they already understand.
Section A lists eight resources (hours in a school day, fresh air, sold-out bus seats, sunlight, concert tickets, sand on a huge beach, piggy-bank money, water in a drought) and asks students to decide whether each is scarce. The set contrasts truly limited resources with ones that are effectively unlimited, so students apply the definition rather than guess. The reference box defines scarcity, choice, and opportunity cost but names none of the eight Section A resources.
Section B is short-answer on page 2. Students define scarcity, explain opportunity cost with their own example, reason through a $5 spending choice, and connect scarcity to the difference between needs and wants. Page 3 is a complete answer key. The skill anchors later economics topics like supply, demand, and trade.
How to Use This Lesson
Read the reference box aloud and define scarcity, choice, and opportunity cost with a quick classroom example.
Complete Section A independently – have students ask ‘is there a limited amount of this?’ for each resource.
Discuss Section B item 11 (Maria’s $5 choice) as a class to model opportunity cost.
Use the answer key on page 3 for self-check or teacher review.
Pair with the Needs and Wants Worksheet or the Goods and Services Worksheet for an economics mini-unit.
Printable Resource
A classroom-ready PDF with everything in one printable resource.
Free Member Resource · Printable PDF · 3 pages · Answer Key
Scarcity and Choice Worksheet
A free printable social studies worksheet for grades 3-5 on scarcity and choice: because resources are limited but wants are unlimited, people must choose, and every choice has an opportunity cost. Students decide whether eight resources are scarce, then answer six short questions. A complete answer key is included.
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