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.
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 it is not 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 produce. They will also learn how specialists depend on each other to satisfy their 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.
This interdisciplinary curriculum guide helps teachers introduce their students to economics using popular children's stories.
14 out of 29 lessons from this publication relate to this EconEdLink lesson.
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.
5 out of 17 lessons from this publication relate to this EconEdLink lesson.
Mathematics & Economics: Connections for Life answers this question by using "real world" economics and personal finance applications to create a set of 12 hands-on and dynamic mathematics lessons for grades 3-5.
4 out of 13 lessons from this publication relate to this EconEdLink lesson.