PRINT LESSONS:
Lesson 11: Those Golden Jeans
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Supply and demand are concepts that students can easily understand when the concepts are demonstrated with products familiar to them. The Law of Demand states that consumers are willing and able to buy less of a product at higher prices and more of a product at lower prices. The demand curve is a graphic representation of the quantity of a product consumers are willing and able to buy at differe...
Grade(s): 3-5
Concepts: Supply, Demand, Consumer, Businesses, Price, Equilibrium price, Shortage, Surplus,
Theme 3: Lesson 10 - Why Do I Want All This Stuff?
Financial Fitness for Life: Steps to Financial Fitness - Grades 3-5 - Teacher Guide
In this lesson, students learn about various types of advertising appeals, such as bandwagon, celebrity endorsement, and authority endorsement. They analyze ads to decide the audience to which the ad is targeted, the type of advertisement appeal used, and the facts and opinions included in the ad. Students create a display of ads.
Grade(s): 3-5
Concepts: Consumer, Price, Advertising, Tastes and preferences,
Lesson 9: A Cracker Jack Lesson
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The basic consumer problem is how to achieve maximum satisfaction given limited resources. Consumers see many goods and services they want to buy, but constraints force them to choose. Many factors influence consumer decisions, such as personal preferences, prices, and convenience.
Grade(s): 3-5
Concepts: Price, Consumer, Costs of production, Profit,
Lesson 5: In a Market Economy, the Forces of Supply and Demand Set the Prices at Which Exchanges Take Place.
Children in the Marketplace: Lesson Plans in Economics for Grades 3 and 4
Consumers wish to purchase goods and services so that they can satisfy their wants. Producers wish to supply goods and services to consumers in order to earn the profits with which producers can satisfy their own wants. Both sellers and buyers are better off when they willingly make exchanges in the market. To facilitate exchange, systems have evolved to coordinate the actions of suppliers and ...
Grade(s): 3-5
Concepts: Supply, Demand, Price, Markets, Opportunity cost, Value, Exchange, Consumer, Producer, Income, Profit,
Lesson 13: Mind Your P's and Q's
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Market-clearing prices and quantities exchanged can change if fluctuations in demand or supply or both occur. Demand and supply will change when the non-price determinants change. How these changes affect the equilibrium price and quantity exchanged in the market are described below.
Grade(s): 3-5
Concepts: Changes in market equilibrium,
Lesson 14: Orange Juice Jubilee
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The simulation is a two-lesson unit designed to serve as a culminating activity for the review of economic concepts taught in the pervious thirteen lessons.
Grade(s): 3-5
Concepts: Division of labor, Decision making, Productive resources, Human capital, Interdependence, Market economy, Supply, Demand, Price, Collateral, Interest, Entrepreneurship,
Lesson 6: Circles within Circles
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
A market is a setting in which people buy and sell goods and services and resources. A market economy is an economic system in which most goods, services, and resources are exchanged by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets. Americans live in a market-oriented economy.
Grade(s): 3-5
Concepts: Goods, Services, Resources, Market, Income, Revenue, Consumers, Producers, Profit,
Lesson 22: Production Questions
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson you and your class discuss the production questions that must be answered before a classroom book can be produced. As owners of the publishing company, your students must discuss how much people will pay for the book and how many books should be produced.
Grade(s): 3-5
Concepts: Business, Consumer, Entrepreneur, Marketplace, Market survey, Partnership, Price, Profit,
Lesson 11: Follow an Ice-Cream Cone Around the World
Teaching Economics Using Children's Literature
Travel around the world with the Green$treet kids as they discover what it takes to make ice cream. Through this story, the students will visit the places where the different ingredients (natural resources) in ice cream are found. There are many Billboards in the story that provide interesting facts pertaining to ice cream.
Grade(s): 3-5
Concepts: Productive Resources, Market Price, Interdependence, Supply & Demand
Lesson 6: Trade - Getting the Things We Want
Play Dough Economics
In this lesson, students will learn that people trade to obtain most of the goods and services they want; that in order to trade one must produce a good or service that other people want.
Grade(s): K-2, 3-5
Concepts: Economic wants, Production, Trade, Barter, Exchange, Consumer sovereignty, Demand
Lesson 10: The Pencil Choice
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson the students assume the role of consumers and choose among three pencils. They discuss wants, acceptable substitutes, and other factors that influence consumer decisions such as price, personal satisfaction, and knowledge of alternatives.
Grade(s): 3-5
Concepts: Choice, Opportunity cost, Price,
Lesson 12: Market Price II - Changes in Supply and Demand
Play Dough Economics
In this lesson, students will learn how changes in demand affect market price; what events would cause an incease or decrease in demand; that the market price serves as a guide to help producers determine what to produce.
Grade(s): K-2, 3-5
Concepts: Supply, Demand, Market price, Profit, Advertising
Unit 2: Lesson 5 - How Can I Improve My Ability to Produce What People Want?
Choices & Changes: In Life, School, & Work - Grades 5-6 - Teacher's Resource Manual
Students read about the life and career decisions of Philip Simmons, a blacksmith and artist from Charleston, South Carolina. They analyze the skills and knowledge Mr. Simmons used to make different products throughout his career.
Grade(s): 3-5
Concepts: Blacksmith, Consumer, Demand, Goods and services, Human capital, Incentives, Income, Producer, Productive resources, Wrought iron,
Unit 3: Lesson 8 - Can I Use Physical Capital to Produce More Things People Want?
Choices & Changes: In Life, School, & Work - Grades 5-6 - Teacher's Resource Manual
Groups of students form companies to produce five-pointed stars. Workers in the four companies use different combinations of physical capital in production. Students demonstrate ways in which using physical capital improves their ability to produce goods and services. Students learn how improvements in the quality of physical capital affect the quality of production and the good being produced.
Grade(s): 3-5
Concepts: Average cost, Consumer, Cost, Fixed cost, Physical capital, Price, Producer, Production, Profit, Variable cost,
Lesson 31: Selling The News Journal
The International News Journal, Inc.
In this lesson students learn how to become good sales people by role playing a sales speech. They discuss the steps to follow and prepare to sell their journals.
Grade(s): 3-5, 6-8
Concepts: Advertise, Demand, Market, Market survey, Supply
Lesson 6: In an Economy Based on Market Prices People Are Free to Substitute One Item for Another.
Children in the Marketplace: Lesson Plans in Economics for Grades 3 and 4
It is often difficult for consumers to imagine finding a substitute for a product or service they regard as necessary. However, if prices for various products rise relative to other prices, consumers begin looking for alternatives. A society may say that it needs wood or heating oil, but if their prices rise relative to other prices, most consumers first reduce consumption and later seek substit...
Grade(s): 3-5
Concepts: Price, Substitution, Wants
Lesson 4: People's Wants Stimulate Production.
Children in the Marketplace: Lesson Plans in Economics for Grades 3 and 4
Consumers are those who buy goods or services in order to satisfy personal or household wants, rather than in order to produce a good or service. Consumers may be adults or children. Producers make goods or create and supply services. If producers believe that consumers want or value certain products, producers will find, pay for, and use the resources necessary to produce those products. Good...
Grade(s): 3-5
Concepts: Demand, Supply, Profit, Consumer, Producer, Advertise,
Lesson 15: Board of Directors and Corporate Officers
The International News Journal, Inc.
In this lesson the board of directors meets with the corporate officers to help make production decisions. The board also helps the officers choose the kind of news journal, estimate the cost of producton, determine the price and quantity of news journals to produce, and decide on the number and price of share of stock. Students observe and learn from the decision making, complete and activity s...
Grade(s): 3-5, 6-8
Concepts: Demand, Market, Price, Profit, Stock, Supply
Lesson 14: All the Money in the World
Teaching Economics Using Children's Literature
Quentin Stowe is an ordinary boy who catches a leprachaun. His wish for all the money in the world is granted, and ends up causing many unexpected problems. As Quentin helps to solve these problems, he learns much about the important economic concept of money.
Grade(s): 3-5
Concepts: Money, Market Price, Role of Government, Barter, Scarcity, Inflation
Lesson 8: Children in the Marketplace.
Children in the Marketplace: Lesson Plans in Economics for Grades 3 and 4
People have relatively unlimited wants. When the necessary resources to fulfill them are scarce, a strategy to satisfy those wants in the best way possible must be designed. The strategy must include answers to the basic economic questions: What goods and services will be produced? How will they be produced? And for whom will they be produced?
Grade(s): 3-5
Concepts: Marketplace, Consumer, Income, Taxes, Workers, Markets, Producer, Interdependence, Citizen, Exchange, Goods, Services,
ONLINE LESSONS:
online To Market To Market
This lesson will help students become good consumers and producers by taking turns buying and selling things in a classroom-created market. Students will establish prices for items and observe what happens during the sale of those items.
Grade(s): K-2,3-5
Concepts: Decision Making,Supply,Choice,Consumers,Demand,Markets,Price,Producers
online NOT your Grandma's Lemonade Stand
After a review of elementary economic concepts, students will apply their understanding by playing an online computer game, Lemonade Stand. This game has the students competing against themselves and others to earn the biggest profit in 25 days time (approximately 15 minutes computer time). "Daily" economic advice helps students find out where they fail in understanding the deman...
Grade(s): 3-5,6-8
Concepts: Supply,Choice,Consumers,Demand,Scarcity,Price,Producers
online Lemon Squeeze - The Lemonade Stand
Everyone has at one time or another opened a lemonade or Kool-Aid Stand. What a great place to begin an economics lesson. Students can taste test three brands of lemonade and compare prices with taste – is the most expensive the best? Using a reader’s theater students will construct a supply and demand schedule and can create a bar or line graph to demonstrate market interactio...
Grade(s): 3-5,6-8
Concepts: Demand,Equilibrium Price,Markets,Price
online If I Ran the Zoo - Economics and Literature
Welcome to the Zoo! In this two-day lesson you will use Dr. Seuss' If I Ran The Zoo book to introduce the economic concepts to your students. You will also get the chance to use actual zoo criteria to help a zoo "choose" new animals.
Grade(s): 3-5
Concepts: Supply,Choice,Consumers,Demand,Scarcity,Price,Resources,Shortage
online What is Competition?
Students will understand what businesses are, that a marketplace exists whenever buyers and sellers exchange goods and services, and that there is competition in the market place if you have more than one seller of the same item or similar items.
Grade(s): K-2,3-5
Concepts: Decision Making,Competition,Consumers,Markets
online Laura Ingalls Wilder's Frontier Town
Laura Ingalls Wilder made a sketch of De Smet, South Dakota in the 1880's. This lesson will discuss the markets in De Smet and competition.
Grade(s): 3-5
Concepts: Competition,Consumers,Goods,Markets,Services
online How E-Commerce Influences Consumer Choice
In this lesson students learn decision making skills that will help them become better consumers. As consumers they have a variety of alternatives from which to choose. They learn about the importance of price information in making their decisions. First, students gather information on different brands of athletic shoes and determine which one is the best buy for them and explain why. The...
Grade(s): 3-5,6-8
Concepts: Choice,Price,Substitute
online Did You Get the Message?
Advertising is the primary tool used by businesses to tell consumers about the goods and services they sell in the marketplace. Businesses also use advertising to try to convince consumers to buy what they are selling. Advertisements do this by pointing out how consumers will benefit if they buy a product. These benefits are called incentives. In this lesson, these two basic functions of advertisi...
Grade(s): 3-5,6-8
Concepts: Advertising,Competition,Consumer Economics,Markets
online Clipping Coupons
In this lesson, students will calculate savings for different products when using coupons. They will also decide what factors will influence the choices they make when choosing products.
Grade(s): K-2,3-5
Concepts: Decision Making,Incentive,Price,Producers
online Beanie Baby Prices Soar
During December 1997, The Washington Post published an article about the debut of the Princess Beanie Baby. A Beanie Baby retailer, interviewed by the Post, indicated there was strong demand for the new stuffed animal.
Grade(s): 3-5,6-8
Concepts: Supply,Quantity Demanded,Quantity Supplied