Sign up for a FREE EconEdLink membership for access to a dashboard to save your favorite lesson plans and other resources, as well as a 20% discount at the Council for Economic Education store, offering best-in-class publications including Financial Fitness for Life, and High School Economics. BECOME A MEMBER!
Students will be able to:
In this economics lesson, students learn how they and family members fulfill the roles of producers and consumers.
Discuss the following with the students:
You may have heard the expression, “That person wears many hats.” In this saying the hats represent the different roles or jobs a person may have. People have many roles. At home a person could be a family member, neighbor, or care giver. Outside the home a person could be a student, factory worker, health care provider, and so on.
Write the following questions on the board. Have students answer the following questions by either drawing a picture or writing in words/full sentences.
Introduce the two main concepts by explaining to the students that they wear two other hats. They are also consumers and producers. A consumer is a person who buys and uses goods and services. Ask students to repeat after you and define consumer. A producer is a person who makes goods or provides services. Ask students to repeat after you and define producer.
Project and display the Producers and Consumers Interactive to the class. This interactive slideshow requires Adobe Flash. It reviews the definition of consumers and producers, prompting students with questions. Review its contents with the class. As an alternative, students may view this slideshow presentation using a 1-1 device with headphones.
Print copies of I Can Wash Dishes and distribute one copy to each student. Pair students and have them complete the activity sheet. Review the answers as a class. See below:
Dirty dishes: 1
Dishes soaking in water: 2
Child washing/drying dishes: 3
Child organizing dishes: 4
Upon completion discuss the following questions with the students.
Print and distribute one copy of the We are Consumers and Producers activity sheet to each student. Instruct the students to either draw pictures or write a list of three goods and/or services they like to consume and three goods and/or services they like to produce. Encourage the students to share their favorite goods and services with the class.
Tell students that in order to leave the class today, they must complete the Gift Coupon. Distribute one coupon to each student. Have the students fill them out in class individually. Collect and check to see if the students have filled out the coupon correctly. Return the coupons and tell the students to present it to a family member. Encourage students to share how the are a producer and what good or service they will offer honoring the coupon.
Play 21 Good or Service Questions. Ask the students to secretly write down the name of a good or service they use. Then, invite other members of the class to try to determine the secret good or service is by asking questions. Write the following questions on the board in order to prompt students to guess:
Create a bulletin board titled “We are Producers.” Have students cut out or draw pictures of jobs they could do for their family and/or community.