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.
Delivering the Goods K-2 Economics Lesson. In this lesson, students have the opportunity to complete an interactive activity that teaches them about providers of goods and services.
This is a basic lesson of scarcity and resources that can be used for elementary students or students with special needs. Scarcity - is a condition that exists because human wants exceed the capacity of available resources to satisfy those wants; also a situation in which a resource has more than one valuable use. Students often get confused with the term resources. The basic kinds of resources used to produce goods and services: land or national resources, human resources (including labor and entrepreneurship), and capital. The following exercise gives the students a kinesthetic approach to the concepts of scarcity and resources. It is a musical chairs approach to learning these economic principles.
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 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.
16 out of 18 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.
10 out of 17 lessons from this publication relate to this EconEdLink lesson.
This publication helps students analyze energy and environment issues from an economics perspective.
3 out of 6 lessons from this publication relate to this EconEdLink lesson.