Reviewing 3rd grade Social Studies Economics Standards:
Focus on:
SS3E1 The student will describe the four types of productive resources:
a. Natural (land)
b. Human (labor)
c. Capital (capital goods)
d. Entrepreneurship (used to create goods and services)
SS3E2 The student will explain that governments provide certain types of
goods and services in a market economy, and pay for these through taxes and
will describe services such as schools, libraries, roads, police/fire protection,
and military.
SS3E3 The student will give examples of interdependence and trade and will
explain how voluntary exchange benefits both parties.
a. Describe the interdependence of consumers and producers of goods and
services.
b. Describe how goods and services are allocated by price in the marketplace.
c. Explain that some things are made locally, some elsewhere in the country, and
some in other countries.
d. Explain that most countries create their own currency for use as money.
There is one more economics standard about personal saving and spending choices
but it is not tested on the CRCT so I would not include a review of it here.
Divide the group up into three smaller groups and hand each one of these task
cards. Each group has 15 minutes to complete their task. The rest of the time
would be each group sharing out their standard to review it with the rest of the
class.
Task 1:
Review the four types of productive resources: natural (land), human (labor),
capital (capital goods), and entrepreneurship. You can find more information about
these in your Social Studies book, pages 152 – 155.
Develop a skit that illustrates each of these four types of resources and perform
it for the class. Have the class hold up a sign of each type of resource as its being
illustrated.
Task 2:
Review the way that governments provide certain types of goods and services that
are paid for by citizens through taxes. You can review this in your Social Studies
textbook, pages 200 – 201, or by reading the Kids Discover, How America Works
issue, September, 2003, pages 2-3. Another good source is the book Taxes, Taxes!
Where the Money Goes by Nancy Loewen, especially pages 6-7.
Create a large poster illustrating some of the goods and services that are paid for
with taxes. Explain the poster to other class members and have them add goods
and services they can think of that are paid with taxes.
Task 3:
Review interdependence, trade, and voluntary exchange (the concepts in SS3E3)
using the textbook, pages 146 – 151, and pages 160 – 163. Currency is covered on
page 126.
Create a flip book with the following terms:
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Interdependence
Goods, services, and prices
Trade
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Voluntary exchange
Local, national, and global production
Currency
The flip book labels will already be made. The group will help the rest of the class
write brief definitions and examples to illustrate each concept.
[Accompanying this plan are task sheets, and four types of productive resources
signs for use in this review lesson.]