LEARNING MODULE

ARALING PANLIPUNAN 9: ECONOMICS

Teacher: Mme. Christine M. Lapaz
Unit I: Basic Concepts in Economics

Week 2: Concept of Scarcity

We learned in the previous lesson that people make choices and decisions to satisfy their unlimited
needs and wants. It is also a fact that our country is having scarcity of resources in answering the needs of the
people. This is a dilemma that some countries should address. They should also solve the basic economic
problem which is scarcity.
 SCOPE OF THE MODULE
The module contains the following lesson:
LESSON TITLE IN THIS LESSON, YOU ARE EXPECTED TO:
2 Economics as a Science  Identify the effects of scarcity in
people’s daily lives
 Conclude that scarcity is a basic
problem of society
 Suggest ways to address scarcity

 CONCEPT MAP OF THE MODULE

Unlimited Human Limited Natural

Needs and Wants resources

Scarcity

Choice
Concept of opportunity cost in
terms of the highest-valued
option forgone

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 SCARCITY
Scarcity refers to resources being finite and limited. Scarcity
means we have to decide how and what to produce from
these limited resources. It means there is a constant
opportunity cost involved in making economic decisions.
Scarcity is one of the fundamental issues in economics.

Click the link below and study about the

concept of economics

1. https://www.investopedia.com/terms/e/economics.asp - concept of economics

Needs Wants

 Answer the following activities on the worksheet provided.

Activity 1

Scarcity vs Shortage

Click the link below and study about the differences and similarities of scarcity and shortage

 https://keydifferences.com/difference-between-scarcity-and-shortage.html - scarcity
and shortage

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 Basic Economic problems

Giving the questions related to production problem and thoughtful consideration is a primary step in
understanding and addressing the production problem

Activity 2

Click the link below and study about the basic economic problems

 https://www.toppr.com/guides/business-economics/introduction-to-business-
economics/basic-problems-of-an-economy/ - basic economic problems

Guide question: Answer these questions in 2-3 sentences on the worksheet provided.

1. Why is scarcity considered to be the central problem in economics?

2. How does the government address the problem of scarce resources and unlimited
needs and wants of man?

Deepen

Make a graphic organizer to show the relationship of scarcity, unlimited needs and wants, and their effects on
the economy.

Sources

1. https://www.referralcandy.com/blog/scarcity-marketing-examples/ - scarcity
2. https://www.translatemedia.com/translation-blog/how-language-affects-decision-making/ - making
decisions
3. https://www.economicshelp.org/blog/21651/economics/basic-questions-of-economics/ - basic
economic problems
4. https://www.toppr.com/guides/business-economics/introduction-to-business-economics/basic-
problems-of-an-economy/ - basic economic problems
4
 Rubrics for Checking Graphic organizer
Criteria Excellent (4) Good (3) Fair (2) Needs Improvement
(1)
Title and labels The graphic Most of the titles Most of the titles The graphic
organizer has an and labels in the and labels in the organizer lacks
appropriate title and graphic organizer are graphic organizer are preparation
labels. appropriate inappropriate
Content The graphic The graphic The graphic The graphic
organizer presents organizer presents organizer presents organizer presents
the information in a the information in the information in the information in a
very organized and an organized and somewhat organized manner that is
easy to follow easy to follow way difficult to follow
manner manner
Relevance The relevance and The relevance and There were several The relevance and
meaning of all the meaning of most of errors in showing the meaning of the data
data are clearly the data are shown relevance and are not shown
shown meaning of most of
the data
Completeness The data in the Some data are Several data are Too much data are
graphic organizer are lacking in the lacking in the graphic lacking in the graphic
complete graphic organizer organizer organizer
Total

Transfer

Make a brochure about your suggestions on how to reduce the effects of scarcity in your daily life

Rubrics for checking

Criteria Excellent (4) Good (3) Fair (2) Needs Improvement
(1)
Attractiveness & The brochure has The brochure has The brochure has The brochure’s
Organization exceptionally attractive formatting well-organized formatting and
attractive formatting and well-organized information. organization of
and well-organized information. materials is
information. confusing to the
reader.
Content- The brochure has all The brochure has all The brochure has The brochure has
Accuracy of the required of the required most of the required little of the required
information and information. information. information.
some additional
information.
Graphics / Pictures The graphics go well The graphics go well The graphics go well The graphics do not
with the text, and with the text, but with the text, but go with the
there is a good mix there are so many there are too few. accompanying test
of text and graphics. that they distract or appear to be
from the text. chosen randomly.
Writing - Grammar There are no There were very few There are some Grammatical
grammatical grammatical grammatical mistakes are so
mistakes in the mistakes in the mistakes in the numerous that the
brochure. brochure. brochure. readability of the
brochure is
impaired.
Total
Click this link to guide yourself in making a brochure -
https://www.printingforless.com/brochures/Brochure-Samples.html
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 ARALING PANLIPUNAN 9: ECONOMICS
Answer Sheets
(Module 2)
Teacher: Mme. Christine M. Lapaz

Name: _________________________________________________ Score: ________________________

Activity 1

Scarcity and Shortage

Similarities Differences
1. 1.

2. 2.

3. 3.

4. 4.

5. 5.

Activity 2

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Deepen (Graphic Organizer)

7
Transfer (Brochure)

Attach your brochure here or upload it in the google classroom.