Scarcity

FOUNDATION FOR ECONOMIC EDUCATION

Prepare for the Economics Olympiad Competition

Scarcity is the fundamental economic problem that arises because resources are limited while human wants are unlimited, forcing individuals, firms, and societies to make choices and face opportunity costs.

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Course curriculum

1. Introduction to Scarcity
2. Time Is Scarce
3. Scarcity is Real and It's Not Going Away
4. Economic Wants
5. Scarcity v. Shortage
6. The Three Factors of Production
7. The Great Economic Problem
8. Scarcity Quiz
9. What Is Scarcity, Really?

Additional Economic Methodology Modules

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The Economics Olympiad is the world’s largest and most prestigious international competition that ignites the minds of young individuals and empowers them with essential economic knowledge and skills. Through a multi-stage structure, participants embark on a transformative journey, competing at the school, national, and international levels with the finals held in the birthplace of the Olympic Games—Ancient Olympia, Greece.

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Economics Olympiad Prep Modules

Use these modules to prepare for success in the Economics Olympiad competition.

FOUNDATION FOR ECONOMIC EDUCATION

Prepare for the Economics Olympiad Competition

Course curriculum

Content

Additional Economic Methodology Modules

Decision Making

Incentives

Allocation

Economics Olympiad Prep Modules