Standards• 6.5.3.A: Explain why people work.• 6.5.3.B: Identify different occupations.• 6.5.3.G: Define saving and explain why people save.• 6.4.4.A:List and explain factors that promote specialization and division of labor.• 6.5.4.B: Identify the requirements for different careers and occupations.
Vocabulary• Work-employment, as in some form of industry, especially as a means of earning ones livelihood• Earnings-money or other payment earned, the profits of an enterprise• Profits-The positive gain from an investment or business operation after subtracting for all expenses. opposite of loss• Enterprise- a unit of economic organization or activity; especially : a business organization
Vocab (continued)• Specialization-pursuing a particular line of study or work• Division of labor-a production process in which a worker or group of workers is assigned a specialized task in order to increase efficiency.
Strategies• Easily integrated into History lessons (what were previous forms of money, what did people do for work)• Classroom currency (fake money, point systems etc.)• Classroom jobs (higher or lower pay depending on work type)• Incentives (negative and positive. Ex: docked pay for missed duty. Payout for quality assignments)
Extended Strategies• Cookie sale (assigned jobs: baker, sales, marketing, distribution etc.)• career project (full spectrum of jobs. Highlights of each job. http://paws.bridges.com/cfnc1.htm)
Cost and Benefits Grades 3-4
Standards• 6.1.3.B: Identify needs and wants of people.• 6.1.3.C: Explain what is given up when making a choice .6.1.3.D: Identify reasons why people make a choice.• 6.2.3.D: Define price and how prices vary for products.• 6.1.4.C: Illustrate what individuals or organizations give up when making a choice.• 6.1.4.D: Explain what influences the choices people make• 6.2.4.D: Explain the role of buyers and sellers in determining prices of products.
Vocabulary• Earnings-money or other payment earned, the profits of an enterprise• Cost-the price paid to acquire, produce, accomplish, or maintain anything• Benefits-a payment or gift• Cost-benefit- producing optimum results for the expenditure• buyer-customer• seller-business
Strategies• classroom "prize" jars (filled with toys and school supplies students can use class money to buy• as items in the jar become more "scarce" increase prices• lunch menu choices (apple sauce vs. chocolate pudding)• marketing discussions• positive vs. negative incentives (homework passes, extra duties).
Extended Strategies• class project "sims" or "peep" villages. (small town built by students)• monitoring gas prices (does it impact how much you travel or how far you go.)
Production and Exchange Grades 3-4
Standards• 6.2.3.A:Identify goods, services, consumers, and producers in the local community.• 6.4.3.B: Identify examples of trade, imports, and exports in the local community.• Explain the role of producers in making goods and providing services.• 6.2.4.A: Explain how a product moves from production to consumption• 6.2.4.G: Explain the three basic questions all economic systems must answer. What to produce? How? For whom?• 6.4.4.B: Explain why nations trade.
Vocabulary• Production- creation; manufacture.• Exchange-to give up (something) for something else• consumption- the using up of goods and services having an exchangeable value• trade-the act or process of buying, selling, or exchanging commodities, at either wholesale or retail, within a country or between countries Consumer-a person or organization that uses a commodity or service
Strategies• outside of classroom jobs students can offer goods or services (additional paper, homework passses. paper folder etc.)• Pizza shop field trip (flour from grains grown locally, cheeses from local dairy milk farms, sauce from local garden tomatoes etc.Romeo’s pizza Mercersburg)• cookie sale (follow production chart etc.)
Extended Strategies• Gas Prices• Peep villages (students produce items for community)• Wegmans field trip (local produce to store)• integrate geography lessons (transport, how far did your fruit travel)• working with partner classrooms for "trade"• other classrooms=other countries