Government Decision Making
Objectives:
- Explain how scarcity and opportunity cost affect government decision-making.
- Explain how governments attempt to prioritize socio-economic goals in response to changing economic, social and political conditions.
Government Decision Making Warmup
Government Decision Making Notes
Task Three: Inflation Calculator
Why do prices of goods change over time? Why does that old guy always say he used to be able to go see a movie for a dollar? What is inflation? Is it a good or a bad thing? You will examine these questions with this activity.
Click here to complete the activity.
Click here to complete the activity.
Government Decision Making Resources
Look at the cartoon below and describe how it represents the concept of opportunity cost. What is the opportunity cost in the cartoon? How is money involved? What decisions do they have to make?
Key Vocabulary
- Scarcity
- Opportunity Cost
