Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: fundamental economic problem of scarcity
Learning Objective/s:
  • Describe the concept of scarcity and its implications for economic decision‑making.
  • Explain how choice and opportunity cost arise from limited resources.
  • Apply the production possibility frontier to illustrate trade‑offs and calculate opportunity cost.
  • Analyse the three fundamental economic questions generated by scarcity.
Materials Needed:
  • Projector or interactive whiteboard
  • Slide deck on scarcity, choice, and opportunity cost
  • Handout with PPF diagram and practice questions
  • Whiteboard markers and chart paper
  • Sticky notes for student examples
 Introduction:
Begin with a quick poll: ask students how they would spend a free hour and note the trade‑offs. Link their responses to the idea that resources are limited while wants are endless, setting the stage for scarcity. State that by the end of the lesson they will be able to define scarcity, explain opportunity cost, and use a PPF to illustrate choices.
Lesson Structure:
  1. Do‑now (5’) – Students list personal activities for a 4‑hour free period; share choices to highlight opportunity cost.
  2. Mini‑lecture (10’) – Present definitions of scarcity, choice, and opportunity cost with real‑world examples; show slides.
  3. Interactive PPF activity (15’) – In groups, plot a simple PPF for “Cars” and “Computers” on chart paper; identify points inside, on, and outside the curve and discuss the slope as opportunity cost.
  4. Guided practice (10’) – Work through the illustrative example of studying vs. part‑time work; calculate the opportunity cost together.
  5. Question carousel (10’) – Students rotate stations answering the three economic questions (what, how, for whom) and record answers on sticky notes.
  6. Check for understanding (5’) – Quick exit‑ticket quiz with three short questions from the practice list.
Conclusion:
Summarise that scarcity forces societies to decide what, how, and for whom to produce, and that every decision carries an opportunity cost visualised by the PPF. Ask students to write one real‑life example of an opportunity cost on an exit ticket. Assign homework: complete the three practice questions in the handout and be ready to discuss answers next lesson.