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Understanding Scarcity

A Grade 4 social studies worksheet on scarcity, exploring needs, wants, and limited resources.

Grade 4 Social studies EconomicsScarcity
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Includes

Fill in the BlanksTrue / FalseMultiple ChoiceShort AnswerWord Bank

Standards

C3.D2.Eco.1.3-5

Topics

scarcityeconomicssocial studiesgrade 4
7 sections · Free to use · Printable
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Understanding Scarcity

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Read each question carefully and answer to the best of your ability. This worksheet will help you understand scarcity, needs, and wants.

1. Scarcity means that there are not enough   to satisfy all our wants.

2. Something you must have to survive, like food or water, is called a  .

3. Something you would like to have but don't need to survive, like a new toy, is called a  .

4. Because of scarcity, people have to make   about what they will get.

1. Everyone in the world has unlimited resources.

T

True

F

False

2. Scarcity means that we have to make choices.

T

True

F

False

1. Which of the following is considered a 'need'?

a

A new video game

b

A warm coat in winter

c

A trip to Disney World

d

A fancy dessert

2. Which of the following is considered a 'want'?

a

Clean water

b

A safe home

c

A new pair of shoes for school

d

A brand new bicycle

1. Give an example of a resource that can be scarce in your community. Explain why it is scarce.

2. Imagine you have only $5.00 and you want a new toy that costs $10.00 and also need a snack for $2.00. What choice would you make and why?

Use the words below to complete the sentences.

limited
unlimited
choices
resources

1. Scarcity happens because all   are  .

2. When things are scarce, we have to make  .