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LESSON: GETTIN’ THROUGH
THURSDAY
Lesson Summary:
Andre can’t stand Thursdays. Each week, that’s the day before his
mother gets paid, and there is never enough money on hand. When his
report card comes Andre knows he will make the honor roll – and that his
mother has promised him a “royal party” on that very day. But
problems arise when the report card arrives on Thursday – the day when the
family has no money left! Will Andre get his party after all?
Concept: Scarcity
Definition: Scarcity is the condition of
not being able to have all the goods and services that you
want. Scarcity
forces people to make choices.
Comprehension Questions
Why was Thursday such a difficult day at Andre’s house?
This
was the day before his mother got paid – and money was especially scarce
at that time.
What were some of the goods that the children in Andre’s house
wanted on Thursdays?
Store-bought drinks, toothpaste, food for the
parakeet, blush brush, bandana, loose leaf paper
Were these items “scarce”?
Yes! In economics, all goods
and services are considered scarce. They are not freely available in
unlimited quantities.
Because of the scarcity of these items and the scarcity of money to
buy them, what did Mama teach the children to do?
She taught them
to make do with the things they already have – like using baking soda
instead of mint toothpaste and a towel instead of a bandana. She even
taught Andre to be satisfied with a “pretend” party until Friday came.
What were some of the scarce goods that Andre finally got at his
“royal party?”
Cake, ice cream, candles, t-shirt, Buffalo Bills
pencil, sports stickers
How do you know these goods that Andre received are
“scarce”?
They had a price and had to be purchased. They were
not free goods available in unlimited quantities.
Andre’s family had a scarcity of money each week. Do rich
families experience scarcity?
Yes! Even though rich people
have more money, they still want more than they can buy. All people
face the problem of scarcity. Also, all people – rich or poor - face
the problem of the scarcity of time.
How do you experience scarcity in your life?
Answers will
vary. However, students do experience scarcity, such as having enough
money to spend on things they want, time to do all the things they want,
and space when packing the car for vacation, etc.
Other Concepts: Economic
Wants | 
