SCARCITY Explain that because of scarcity (unlimited wants and limited resources), economics systems must be developed by individuals, families, communities, and societies in order to determine how goods and services will be produced and distributed.
Standard detail
CE 3
Depth 0Standard set: Consumer Economics
Original statement
Quick facts
- Statement code
- CE 3
- List ID
- 3
- Standard ID
- 991B943BD169444C8180BF803D71D8F7
- Subject
- CTE
- Grades
- 09, 10, 11, 12
- Source document
- Indiana Department of Education
- License
- CC BY 4.0 US