Free Printable WorksheetSocial StudiesGrade 3Social Studies Curriculum3.37

3.37 Scarcity and Choices Worksheet

Download our free printable Grade 3 Social Studies worksheet on 3.37 Scarcity and Choices. Ideal for classroom practice, homeschool learning, independent homework, and standardized test preparation. Available in both print-ready PDF and editable DOCX formats.

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Worksheet Overview & Skills Covered

Core academic competencies and curriculum alignment

This Grade 3 Social Studies worksheet provides structured practice on 3.37 Scarcity and Choices. Students are guided through targeted exercises that build foundational understanding, computational accuracy, and critical thinking skills.

Scarcity and Choices - Select the choice that shows opportunity cost when a person picks one option over another. (CEE Econ Standard 1–2; C3 D2.Eco.3.3-5)

Whether you are an educator preparing classroom handouts, a tutor reinforcing weekly topics, or a parent supporting homeschool learning, this printable resource gives students the deliberate practice required to achieve subject fluency and master state standards.

Grade

Grade 3

Subject

Social Studies

Domain

Social Studies Curriculum

Formats

PDF & DOCX

Sample Practice Problems

Preview the types of problems and questions covered in this worksheet

Below are sample questions representative of the exercises included on this worksheet and related 3.37 Scarcity and Choices skill assessments:

Problem 1Difficulty: Mastery
For a bake sale, the club has 12 eggs, 6 cups of sugar, and 120 minutes. A muffin batch uses 3 eggs, 2 cups of sugar, and 30 minutes, and earns $10 profit. A cookie batch uses 2 eggs, 1 cup of sugar, and 20 minutes, and earns $6 profit. The club makes 3 muffin batches.
What is the opportunity cost of making 3 muffin batches?
AMaking 1 more muffin batch
BUsing 120 minutes
CEarning $30 profit from muffins
DMaking 6 cookie batches and earning $36 profit instead
Solution & Explanation:3 muffin batches use all the sugar (3x2=6 cups) and earn $30. With the same sugar (6 cups), they could instead make 6 cookie batches (1 cup each), which takes 6x20=120 minutes and uses 12 eggs, earning 6x$6=$36. The best alternative they give up is $36 profit from cookies.
Problem 2Difficulty: Mastery
A school has $600 to help students practice math. It can buy 3 laptops at $200 each, or buy 30 workbooks at $20 each. The school buys 3 laptops, even though it knows more students can use workbooks right away.
What is the opportunity cost of buying 3 laptops?
AHaving computers
BSpending $600
CBuying 30 workbooks instead
DCharging laptops
Solution & Explanation:Opportunity cost is the best alternative given up. If the goal is helping the most students right away, buying 30 workbooks is the best alternative they give up.
Problem 3Difficulty: Mastery
Ravi wants to buy a used phone. The phone costs $120 today. Next week the store will have a sale and the same phone will cost $100. Ravi will still have $120 next week. Ravi buys the phone today anyway.
What is Ravi's opportunity cost of buying the phone today?
AGetting the phone today
BWaiting one week and saving $20 (having $20 left) instead
CSpending $120
DBuying a phone case
Solution & Explanation:If Ravi waited, he could pay $100 and still have $20 left. By buying today, he gives up that best alternative savings of $20.

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Frequently Asked Questions

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QIs this 3.37 Scarcity and Choices worksheet free for teachers and homeschoolers?

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QCan students practice 3.37 Scarcity and Choices online with instant feedback?

Yes! In addition to this printable worksheet, students can practice 3.37 Scarcity and Choices interactively on our platform with automated grading, instant score tracking, and detailed step-by-step solutions.

QWhat grade level and standards does this worksheet align with?

This worksheet is designed specifically for Grade 3 Social Studies students. It aligns with educational standard 3.37 (Scarcity and Choices).

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