Unit Title: How did people cope with economics in their environment to satisfy their needs and wants. NCCOS Standard: Goal 7
The learner will apply basic economic concepts and evaluate the use of economic resources within communities. Objectives:
Objective 7.01: Distinguish between producers and consumers and identify ways people are both producers and consumers. Objective 7.02: Distinguish between goods produced and services provided in communities. Objective 7.03: Describe different types of employment and ways people earn an income. Objective 7.04: Identify the sources and use of revenue in the community.
Grade Level: 2nd Grade
Unit Rational/Introduction of Topic:
This unit should help students understand that people have unlimited needs and wants, but they live in a world which surrounds them with limits. A fundamental condition of life is that there is not enough time, money, energy, nor other resources to satisfy everyone's needs and wants. To make the best use of scarce resources, both individuals and groups must choose wisely among the alternatives available to them. Economics can be thought of as responsible decision making, choosing among alternatives. Choices (decisions) have consequences and some choices lead to more productive outcomes than others. The purpose of economics is to provide practical tools for evaluating alternatives before making a decision. A good economic education should also help students develop the disposition and the ability for making decisions based on reason rather than other influences such as impulse or peer pressure. Unequal distribution of resources necessitates systems of exchange, including trade, to improve the well-being of the economy. However the role of government in economic policy-making varies over time and from place to place. Increasingly, these decisions are global in scope and require systematic study of an interdependent world economy and the role of technology in...