Describing Availability & Scarcity of Resources

T.I.P.S.

Students must be able to describe how having or not having resources available are related and what that does to how much something costs.

Example

Describe how the cost of a product is affected by whether or not resources needed to provide that product are available. Hint  Possible Solution 

TEKS

Supporting Standard

 3.9 Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:

(B) describe the relationship between the availability or scarcity of resources and how that impacts cost

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