Scarcity and Choice Activity Instruction: Look at two decisions that you have had to make. Use the chart to investigate the economic cost and benefits of making these decisions. Problem Your Options (unlimited wants) Your Shortage (limited resources) Your Choice What was the cost of your decision What was the benefits of your choice I Wanted to buy a car but I didn't have enough money. I want a car, play on the football team, and hang out with my friends. Money and Time To get a job in order to save up money to buy a car. I had to give up playing sports, being with my friends, and sleeping in on the weekends since I had to work. I also have to keep working since I have to pay for insurance and gas. It is great to have my own car and not depend on my parents, friends, or the bus to get me to school