This engaging lesson gives students the opportunity to identify risks and rewards of entrepreneurship and distinguish between entrepreneurs who start a business to produce a good or provide a service.
In this lesson students review the concepts of goods, services, and producers using the Internet to locate examples of each in a teacher's classroom. They learn about the three kinds of resources necessary to produce goods and provide services locating examples from a picture tour of the Crayola Factory. Through interviews they learn about the work of the people in their families and draw conclusions from their findings. Finally, they examine a picture of a farmer working in a field to identify examples of natural, human, and capital resources.
In the book, Peppe the Lamplighter, by Elisa Bartone, Peppe and his family moved to America to pursue the American Dream. His mother has passed away, his father is ill, and all the children need to find work to help provide for basic essentials. Peppe is excited to find a job, only to be told by his dad that his new job is not important or a job he should be proud of. This lesson will challenge students to consider specialists in the community and the valuable goods and services they provide. They will also participate in an activity that will allow them to learn the concept of interdependence and how it satisfies economic wants.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
Designed primarily for elementary and middle school students, each of the 15 lessons in this guide introduces an economics concept through activities with modeling clay.
17 out of 17 lessons from this publication relate to this EconEdLink lesson.
This revised and updated "how to" guide is a great way to start a classroom business with your students.
7 out of 7 lessons from this publication relate to this EconEdLink lesson.
This publication contains 16 stories that complement the K-2 Student Storybook. Specific to grades K-2 are a variety of activities, including making coins out of salt dough or cookie dough; a song that teaches students about opportunity cost and decisions; and a game in which students learn the importance of savings.
3 out of 18 lessons from this publication relate to this EconEdLink lesson.