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Scarcity and Non-Scarcity in a Non-Market Economics Model

12 Pages Posted: 26 Jul 2010  

Edward M. Scahill

University of Scranton - Department of Economics

Date Written: June 29, 2010

Abstract

This article describes a model that can be used to introduce basic economic concepts to children at the K-8 grade levels and lay a foundation for the later study of markets and prices. The model focuses on non-market environments, such as homes and schools, where people first experience economic decision making. In the model sunk costs provide an explanation for the observation of non-scarcity situations which are seldom considered and more rarely explained in textbooks and K-12 teaching lessons. In fact, non-scarcity situations often occur in non-market environments. The utility of the non-scarcity economics model is magnified by the commitment most states have made to establishing economics standards at the K-8 grade levels.

JEL Classification: A21, I20

Suggested Citation

Scahill, Edward M., Scarcity and Non-Scarcity in a Non-Market Economics Model (June 29, 2010). Available at SSRN: https://ssrn.com/abstract=1648567 or http://dx.doi.org/10.2139/ssrn.1648567

Edward M. Scahill (Contact Author)

University of Scranton - Department of Economics ( email )

Scranton, PA 18510-4602
United States
570-941-4187 (Phone)
570-941-4825 (Fax)

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