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Enduring Understandings:
Resources
are limited.
People make choices because they can not have everything that they
want.
Goods and services satisfy people’s needs and wants.
We depend on others to meet our wants and needs.
Knowledge: Students will know:
People work
at jobs to earn money so that they may purchase goods and services to meet
their wants and needs.
Economics Terms to learn:
Goods: Things people make or use to satisfy
needs and wants
Services: Activities that satisfy
people’s needs and wants
Buyer: A person who uses money to purchase
goods or services
Seller: A person who sells goods or services
Skills Students will be able to:
Differentiate
between wants and needs, goods and services
Explain
that people make choices because they cannot have everything they want.
Describe
jobs that produce goods or provide services
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Give
examples of products (goods) that people buy and use
Give
examples of services that people do for each other.
Give examples
of the choices people have to make about the goods and services they buy
(e.g. a new coat, a tie, or a pair of shoes) and why they have to make
choices (eg because they have a limited amount of money.)
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Sample Assessments
A
snowstorm is predicted with at least two feet of snow. Give an example of 1 good and 1
service that is likely to be in demand.
Explain
2 ways producers can meet those wants and needs
Sample Learning Experiences
Discuss and sort pictures into
goods and services
Discuss and sort pictures of wants and needs
Discuss goods and services
provided in the town
Discuss various ways that people
earn money
Resources:
Needs and Wants – www A to
z.com
Do we Need It? Do we Want it? Benchmark Education
Co.
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