SOCIAL STUDIES
GRADE: K
UNIT: The Market
Lesson Three
MSDE CONTENT STANDARD(S):
Economics
Skills and Processes
LESSON FOCUS
How do people get the things they want or need?
OBJECTIVE(S) The student will be able to:
 Describe how buyers and sellers make exchanges at the market.
 Explain that money is one way to acquire goods.
 Explain that trading is another way to acquire goods.
 Recognize that goods have different values.
 Identify situations where people make choices.
TIME FRAME: This lesson will take approximately three class periods.
MATERIALS
 Newspaper circular pictures or advertisements
 Tape
 Download of Discovery Streaming Video- Let Me Choose: Making Good Decisions
 2 copies of “Goods Trading Cards” (Teacher Resource 3.1), cut apart
 Fake dollar bills or 5 copies of “Play Money” (Teacher Resource 3.2), cut apart
POSSIBLE RESOURCES:
Textbooks/Literature
 Brisson, Pat & Bob Barner. Benny’s Pennies. New York, NY: TurtleBack School and
Library, 1995.
 Rau, Dana Meachen. The History of Money. Milwaukee, WI: Weekly Reader, 2006.
ISBN: 0836848691
 Rau, Dana Meachen. Spending Money. Milwaukee, WI: Weekly Reader, 2006.
ISBN:0836848721
 Rissman, Rebecca. What is Money. Chicago, IL: Heinmann Library. 2008. ISBN: 978-14329-1077-8
 Rissman, Rebecca. Spending Money. Chicago, IL: Heinmann Library. 2008. ISBN: 9781-4329-1076-1
 Rissman, Rebecca. Using Money. Chicago, IL: Heinmann Library, 2009. ISBN: 978-14329-3266-4
 Smith, Barry. Tom and Annie Go Shopping. Boston, Massachusetts: Houghton Mifflin,
1989. ISBN: 0395517383
 Williams, Vera. Something Special for Me. New York: Greenwillow Books, 1983.
ISBN: 0688018076
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Videos/Films
 http://player.discoveryeducation.com/index.cfm?guidAssetId=E231A03F-3690-4D0D9282-B361ED1780C1&blnFromSearch=1&productcode=US - Discovery Streaming
Video- Let Me Choose: Making Good Decisions (duration- 3 minutes)
Technology
 http://www.econedlink.org/lessons/index.php?lesson=461&page=teacher (Every Penny
Counts lesson on spending money/making choices with links to stories and extension
activities and interactive activities)
ENGAGING INSTRUCTIONAL STRATEGIES
Experiential Exercise- Students will participate in a simulation of a market where they have to
purchase goods through trading and the use of money.
VOCABULARY
 value
 trading
Part 1
MOTIVATION
Write the word goods on the board or direct students attention to the word wall card. Have
students recall the definition of goods as something that people make or grow to satisfy their
economic wants. Tell students they are going to each get to pick out an example of a good.
PROCEDURE
1. Distribute a section of a newspaper circular or set of advertisements to each student
that includes a selection of goods and tell students to select one example of a good.
Direct students to cut out the picture of the good they have chosen. (Note: Consider having
students draw three goods using the “Optional Goods Template” (Student Resource 3.1) that
are important to them instead of using the newspapers or advertisements).
2. Allow time for students to select and cut out a good. Assist students as needed. Students
should be able to identify the name of the good they selected.
3. Have a few students share the goods they selected and discuss the value of each good.
Facilitate a discussion by asking the questions:
 What is value or worth of these items?
 Are all goods worth the same amount? If not, what makes something valuable?
 Who decides the value of goods?
4. Tell students they are going to sort the goods they chose based on their value. Draw a
value line on the board and label one side “Less Valuable (Less Money)” and the other side
“More Valuable (More Money).” Tell students one way that people determine value is how
much money the good costs. Have students come up to the board and tape their good where
they think it should fall on the value line based on the value of an item on it’s monetary cost.
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DEBRIEFING
Review the completed value line with students and discuss how the value or cost of a good
might impact a decision about which goods to purchase.
Part 2
MOTIVATION
Discuss how the goods were sorted in the last lesson and tell students there are other ways
to help choose which good they want. Have students brainstorm other factors that may
influence what good is purchased. Tell students they are going to watch a video about how one
girl made a choice about which good she was going to purchase.
PROCEDURE
1. Show and discuss the Discovery Streaming video “Let Me Choose: Making Good
Decisions.” Before viewing, tell students the girl in the video must make a choice about what
type of good she will buy. In this case, the goods she is deciding between are different types
of pets. Tell students to pay attention to how she makes her decision. After watching the
video, facilitate a discussion by asking the students the following questions.
 What was the decision that Andrea had make? (what type of pet to get)
 What were some of the types of pets Andrea was considering?(dog, cat, fish, bird, bunny)
 What pet did Andrea choose? (cat)
 How did Andrea make her decision? (asking questions, getting information)
 What was important to Andrea in helping her choose? (playful/cuddly, easy to take care of)
 What would be important to you if you could pick a pet?
2. Discuss how goods can be purchased using money or through trading. Tell students that
in the video, Andrea used money to purchase the pet. Ask students if they can think of any
other ways that people sometime get the goods that they want.
3. Facilitate a brainstorming about how trading is used today. Prompt students to think
when they have traded for goods that they wanted. (e.g. trading cards, toys, snacks, etc.)
4. Tell students they are going to get a chance to participate in a market simulation during
the next class. Explain that each student will be given a set amount of play money and some
goods that they can use to trade or buy goods from each other.
5. Select two student volunteers to model the completion of a trade. Give each student
volunteer one or two goods from “Goods Trading Cards” (Teacher Resource 3.1) and some
play money from either “Play Money” (Teacher Resource 3.2) or fake money. Explain the
rule that everyone must trade at least one of his or her goods. Have one student pretend to be
a buyer and a seller. Have students model a trade use phrases such as the following:
 May I see what you have to trade?
 I would like to buy/trade you for your _______.
 I am willing to trade you my ______ for your ______.
 I am willing to pay you ______dollars for your _______.
 Thank you. It was a pleasure doing business with you.
 You are welcome.
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Unit 4: Lesson 3
DEBRIEFING
Have students Think-Pair-Share what they think will influence other students choices
about which goods they will want and how they will make their choices.
Part 3
MOTIVATION
Select two different student volunteers to model the completion of a trade one more time.
Give each student volunteer one or two goods from “Goods Trading Cards” (Teacher Resource
3.1) and some play money from either “Play Money” (Teacher Resource 3.2) or fake money.
Remind them that everyone must trade at least one of his or her goods. To begin, one student
will pretend to be the buyer and the other student will pretend to be the seller. Have students
model a trade use phrases such as the following:
 May I see what you have to trade?
 I would like to buy/trade you for your _______.
 I am willing to trade you my ______ for your ______.
 I am willing to pay you ______dollars for your _______.
 Thank you. It was a pleasure doing business with you.
 You are welcome.
PROCEDURES
1. Review the procedures and answer student questions before distributing materials.
Distribute one or two goods to each student volunteer from “Goods Trading Cards” (Teacher
Resource 3.1) and some play money from either “Play Money” (Teacher Resource 3.2) or
fake money.
2. (Experiential Exercise) Provide time for students to participate in a simulation of a
market. Assist students as necessary.
DEBRIEFING
Gather students and facilitate a discussion about the simulation. Encourage students to share
their reactions and assure them that these reactions are fine. Help students see the connection
between the market simulation and the key objectives of the lesson by asking questions such as
the following.
 How did you feel during this activity?
 What did you notice happened when you tried to trade someone for a good?
 What did you notice happened when you tried to buy a good?
 What did you have to give up or trade to get the goods you wanted?
 Were all of the goods worth the same value? What determined their value?
 In what ways do you think this activity is similar to the way people really trade or
purchase goods?
 In what ways do you think this activity is unlike the way people really trade or
purchase goods?
THOUGHTFUL APPLICATION
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Have students think about where goods can be purchased. Distribute “I Went to the Store”
(Optional Teacher Resource 3.3) and review the directions for completion.
EVALUATION
 Observe participation in large and during the trading activity.
 Content of student resource sheets.
EXTENSION
 Turn housekeeping area into a store, including a cash register and money if possible.
 Set up a class store where students can barter and buy goods.
 Send home a letter to parents asking them to donate empty containers. Place donated items
from households in the block area of the classroom.
 Place a collection of books related to stores/markets/money in the reading center.
 Place more newspaper circulars in the kitchen area for children to use with dramatic play.
 Have the students practice trading something at home with their parents.
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