Download Unit 5, Economics

Grade 3 Social Studies
Unit 5
Title
Suggested Time Frame
5th Six Weeks
34 Days
Economics
Big Ideas/Enduring Understandings
Understanding how to earn, spend, save and donate money is an
important life skill.
The United States Free Enterprise system affects how businesses are
run.
Guiding Questions
How does scarcity affect the price of goods?
How do you budget your money?
How does a simple business operate?
*Safety Net Standard
TEKS
Readiness TEKS
*6A
7C
Supporting TEKS
6B
7AB
8ABCDE
5ABCD, 17ABCDEF, 18ABC, 19AB
Vertical Alignment Expectations
*TEKS one level below*
*TEKS one level above*
SS TEKS
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Process Skills
Sample Assessment Question
6A
What is a way you get or earn money? Why would a person donate money to someone else? If you had $100.00 what would you purchase and to whom would you donate?
7B
How does scarcity of gasoline affect your life?
The resources included here provide teaching examples and/or meaningful learning experiences to address the District Curriculum. In order to address the TEKS to the proper depth
and complexity, teachers are encouraged to use resources to the degree that they are congruent with the TEKS and research-based best practices. Teaching using only the suggested
resources does not guarantee student mastery of all standards. Teachers must use professional judgment to select among these and/or other resources to teach the district
curriculum. Some resources are protected by copyright. A username and password is required to view the copyrighted material.
Ongoing TEKS
17) Social studies skills. The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources, including electronic technology. The
student is expected to:
(B) sequence and categorize information;
(17) Social studies skills. The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources, including electronic technology. The
student is expected to:
(C) interpret oral, visual, and print material by identifying the main idea, distinguishing between fact and opinion, identifying cause and effect, and comparing and contrasting;
(18) Social studies skills. The student communicates in written, oral, and visual forms. The student is expected to:
(C) use standard grammar, spelling, sentence structure, and punctuation.
Knowledge and
Skills with
Student
Expectations
District Specificity/
Examples
(6) Economics. The
student understands
the purposes of
earning, spending,
saving, and donating
money. The student is
expected to:
(A) identify ways of
earning, spending,
saving, and donating
money
(Readiness)
Blooms: Remember
Ways of earning money​ - this is also
called income:
● Having and doing a job for a
salary.
● Doing chores around the
house for an allowance.
● Doing helpful things for
neighbors, family or friends and
receiving money as a reward or
payment.
● Winning money in contests.
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Vocabulary
Needs
Wants
Scarcity
Abundance
Opportunity
Cost
Value
Instructio
nal
Strategies
Describe
what you
do with
money you
receive for
your
birthday, a
holiday, or
an
allowance.
Suggested Resources
Resources listed and categorized to indicate suggested uses. Any
additional resources must be aligned with the TEKS.
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
● Give students the opportunity to learn economic concepts
through real-life learning experiences.
● Reinforce economic concepts through classroom activities
such as role-play, stories, pictures, games, and cooperative learning
tasks.
● Other "reward" bonuses such
as getting money for good grades or
for special accomplishments.
● Gifts of money or donations
for a specific cause or project.
​Ways of spending money:
● Spending money for
necessities such as food, clothing and
shelter (needs).
● Spending money for "extra"
items such as entertainment, eating out
at restaurants, vacations and so on
(wants).
● Spending money for school
supplies, books, and other necessities
to be a good student (wants and
needs).
Note: For adults this can be spending
in the form of cash, bank check, and/or
credit.
Ways of ​saving money:
● Having a savings account.
● Buying savings bonds.
● Having a "piggy bank" or
other place at home to save money.
Ways of ​donating ​money:
In kindergarten the students learned
about the importance of jobs.
In first grade the students were
introduced to the concepts of economic
choices and the characteristics of a
"job well done".
In second grade the students
learned about the importance of
work to provide income and
purchasing power, the difference
between producers and
consumers, and economic choices
as part of the free enterprise
system in the U.S.
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(spring
board for
discussion)
● Introduce the concept of economic incentives. Ask students
to consider the rewards and penalties that affect their choices and
behavior at home and school.
● Have students compare what each of them considers an
incentive. Through their discussion, have them understand that
incentives are different for different people.
● Have students discuss the importance of saving at least some
of one's income. A simple formula might be:
● Savings + Spending = Income (earnings)
● As part of this discussion, ask students to create a simple
budget of their own based on any income they might have and how
much of that income they spend and save.
● An alternative to this might be to "create" a classroom
"economy" where children are "paid" (with coupons, stickers, etc.) for
daily participation, classroom responsibilities, extra help they offer to
others and so on. They can budget their "earnings" including both
spending and savings.
● Math connection: counting money.
Have students classify pictures based on whether they illustrate
earning money, spending money, or saving money.
Have students identify a goal, something that they want to buy or
spend money on, and then write about ways they could earn money to
save toward buying that item…include in the written composition an
indication of the amount they would need to earn in order to save
enough money to buy the selected item. As part of this project,
students could compare prices on a given item in order to encourage
them to become wise consumers.
Websites
ABC’s of Saving
You can Bank on this ​Budgeting
You can Bank on this​ Saving
Lessons
(6) Economics. The
student understands
the purposes of
earning, spending,
saving, and donating
money. The student is
expected to:
(B) create a simple
budget that allocates
money for spending,
saving, and donating.
(Supporting)
Blooms: Understand, Create
Budgeting is one way of planning for
earning, spending, and saving.
Remind students of the importance of
saving at least some of one's income.
A simple formula might be:
Savings + Spending = Income
(earnings)
In kindergarten the students learned
about the importance of jobs.
In first grade the students were
introduced to the concepts of economic
choices and the characteristics of a
"job well done".
In second grade the students learned
about the importance of work to
provide income and purchasing power,
the difference between producers and
consumers, and economic choices as
part of the free enterprise system in the
U.S
Credit
Credit card
Savings
Bank
Interest
Deposit
Loan
Budget
Create a
budget for
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
Plan the necessary earnings, savings, and spending for a class fieldtrip.
● As part of this discussion, ask students to create a simple
budget of their own based on any income they might have and how
much of that income they spend and save.
● An alternative to this might be to "create" a classroom
"economy" where children are "paid" (with coupons, stickers, etc.) for
daily participation, classroom responsibilities, extra help they offer to
others and so on. They can budget their "earnings" including both
spending and savings
Math connection: counting money
Have students write about ways they earn, spend, and save money.
Ask them to prepare a simple personal budget that shows what they
can earn (allowance, mowing the lawn, getting good grades) and how
they intend to spend and save their money.
Create a class budget for a project or field trip that in which the whole
class is involved. Detail ways the class can earn money for the project,
ways to spend the money wisely, and how much they can save for
additional projects or celebrations..
Primary Sources
Websites
(7) Economics. The
student understands
the concept of the free
enterprise system. The
​
student is expected to:
Blooms: Understand, Analyze
By the end of third grade the students
will be able to:
Define​ scarcity​, using examples of
scarce resources and
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Needs
Wants
Scarcity
Abundance
Opportunity
Cost
Graphic
organizers
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Gathering the Sun: An Alphabet in Spanish and English by Alma Flor
Ada. Lothrop, Lee & Shepard, 1997.
​
(A) define and
​
identify examples of
scarcity
(Supporting)
Describe the ​effect of scarcity​ on
production, distribution, consumption
and interdependence.
Scarcity results from the imbalance of
unlimited wants and limited resources.
There is a relationship between
scarcity and pricing - the more
"scarce" a resource is the more people
can charge for that item.
Sometimes scarcity is "created" by the
supplier or the manufacturer. For
instance,
● Controlling the supply of oil
(petroleum) raises gasoline prices at
the pump.
● Limiting the numbers of
tickets sold to an event raises the price
of the tickets.
● Making a limited number of a
certain toy, car, or other product raises
the price.
Sometimes scarcity is the result of
natural disasters such as storms or crop
failures. Other times scarcity results
from human actions such as cutting the
rain forest for farmland or clear-cutting
trees in a forest.
All of these are affected by scarcity:
● Production - manufacturing or
refining something.
● Distribution - selling the
product.
● Consumption - buying and
using the product.
● Interdependence - when we
depend on someone else living
somewhere else to help supply needs
and wants - people work to provide
money to buy the things they need
which are supplied by someone else.
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Value
Extra Cheese, Please! Mozzarella's Journey from Cow to Pizza by
Cris Peterson, Boyds Mills Press, 1994.
Sugaring Season: Making Maple Syrup by Diane L. Burns.
Carolrhoda, 1990
Cocoa Ice by Diana Applebaum. Orchard, 1997.
Activities
Using a T-chart, ask students to make a list of things they "want" on
one side of their chart. Then, on the other side of the chart, ask them to
list the limitations to their getting these things. Those limitations might
include money, availability, and so on.
Discuss with the students that this is one example of scarcity. Have
them think about something that everyone wants but is difficult to
obtain. Perhaps a toy or game or other item that is in short supply.
Point out to students that scarcity is different from area to area and
community to community
Given a list of resources, students will determine which of these
resources is scarce and explain the reasons for their decisions.
Given a particular example of a scarce resource, such as oil, have
students describe the effects on production, distribution, and
consumption.
Given a list of goods and services, have students identify the
opportunity cost (those goods and services that could have been made
with the same productive resources) for making those goods and
services. For example:
Note: other resources/services in the list might include classroom or
home items such as rubber for tennis shoe soles, leather for shoes,
cotton for clothes, the school nurse, and custodian and so on.
Primary Sources
If I Ran the Zoo-Economics and Literature
Hawaii Economics :From the Mountains to the Sea
Economic Spotter: Scarcity with the Lewis and Clark Expedition
Background/ Extra information
Scarcity forces people to make
economic choices. This economic
concept is called opportunity cost.
When productive resources are used to
produce one good or service, the
opportunity cost is that other goods
and services that would have been
made with the same resources are
limited.
● If we use trees to produce
lumber for building houses, then the
amount of trees for making paper or
pencils or desks is limited.
● Paper used to make a book
cannot be used to make paper towels.
● Households within
communities buy goods and services
that their neighbors or people in other
communities help to produce.
● Point out to students that the
concept of scarcity is related to the
concept of supply and demand.
Scarcity is only an issue when it
involves a need (food, clothing,
shelter) or when there is a high
demand for a resource. This part of
scarcity is directly related to the
production, consumption and
distribution of resources.
● In the United States, we
produce a lot of rice. We sell rice to
other countries (China, Japan, and
India) where their need for rice is
greater than the amount they can
produce. This is an example of
interdependence.
● In the Middle East, there are
huge reserves of oil (petroleum). These
nations (OPEC) sell the United States
about one-half of the oil we consume
on a daily basis. Although we produce
oil, we don't produce enough to satisfy
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our daily demand (consumption) and
therefore, scarcity is an issue. This is
also an example of interdependence.
Students were introduced to the
concepts of scarcity and economic
choices in first grade.
➢
The concept of economic
interdependence is new at third
grade
(7) Economics. The
student understands
the concept of the free
enterprise system. The
student is expected to:
(B) explain the
impact of scarcity on
the production,
distribution, and
consumption of goods
and services; and
(Supporting)
Name some resources that are
scarce.
Blooms:Understand
Simple definitions of production,
distribution and consumption are:
● Production - the resources
(human, natural, and capital) that it
takes to make a good or deliver a
service
● Distribution - the process of
getting goods/services to the consumer
● Consumer - the person(s) who
purchase or trade for goods and
services
● Consumption - the process of
using services or buying goods.
This lesson implies an understanding
of types of resources:
● Human Resources (Labor) people involved in producing a product
or service.
● Natural Resources (Land) land and/or raw materials used in the
production process (i.e., trees, sugar
cane, iron ore, and so on.)
● Capital Resources (Capital) tools, machinery, factories, money and
other resources used to help turn
natural resources into goods and
services.
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Compare
Production
Distribution
Consumption
Goods
Services
Producer
Consumer
Human resources
Capital resources
Profit
Make a list
partner/gro
up activity
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
Have students list all of the jobs that they might do that could earn
money. Have students list the types of jobs that are done by people in
their community.
Explain to students that people in some jobs receive higher pay. Give
examples such as doctor, actor, professional athlete, teacher,
salesperson, taxi driver, lawyer, newspaper carrier/seller, yard
maintenance worker, and so on. Ask students to rank order these jobs
in terms of pay. Then ask students to discuss what makes some jobs
worth more pay.
● Now rank jobs according to the amount of education it takes
to do those jobs. Is there any relationship between pay and education
levels? Does this pay amount change over time?
● Have students identify services provided by workers in their
community or neighborhood.
● Have students identify goods that are produced in their
neighborhood or community.
Give students practice distinguishing between goods and services by
having them find examples from their own experience.
Have students keep a portfolio of the types of jobs that they might
want to have to earn income. Ask them to explain their choices.
● Entrepreneur - the
"risk-taker" who invests his/her money
in business ventures in hopes of
making a profit.
● Factors of Production - the
combination of Land, Labor, Capital
and Entrepreneurship used in
producing goods/services.
● Goods/Products - what is
produced.
● Services - those things that a
person provides for other people that
does not involve a finished product,
e.g., policemen, ministers, social
workers are in service occupations.
Divide the class into groups and give each group a "job" to
complete in the school or classroom. "Pay" each group with
play money and then allow them to "buy" goods or services in
the classroom or school.
Given a set of pictures of people doing their jobs, students should be
able to sort them into categories of those that produce goods and those
that perform services.
Have students make a collage with goods and services cut out of
magazines. They should label their collage either "goods" or
"services".
HR + NR + CR + Entrepreneur =
Goods /Services
Labor + Land + Capital +
Entrepreneur = Goods / Services
Students were introduced to the
concepts of goods and services in first
grade.
Primary Sources
Websites
A ​good​ is something people want that
you can hold such as a book, baseball
bat, a cake, or a computer.
A ​service​ is an activity that satisfies
people's wants such as driving buses,
waiting tables, delivering newspapers,
coaching a team, selling cars, or being
a doctor.
(7) Economics. The
student understands
the concept of the free
enterprise system. The
student is expected to:
(C) explain the
concept of a free
market as it relates to
How does scarcity of gasoline affect
your life?
Blooms: Understand
Introduce the concept of economic
systems focusing on the market
economy.
Define markets: Physical places where
people can buy and sell things OR
some way to bring buyers and sellers
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Explain
Concept
Free market
U.S. free enterprise
system
Profit
Competition
Group
activity-Dev
elop a
business
idea, track
the cost, set
a selling
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Arthur's Pet Business by Marc Brown. Little Brown, 1993.
A Peddler's Dream by Janice Shefelman. Houghton, 1992.
Farmer's Market by Paul Brett Johnson. Orchard, 1997.
Jelly Beans for Sale by Bruce McMillan. Scholastic, 1996.
the U.S. free
enterprise system.
(Readiness)
together (such as the internet, a
telephone, or the newspaper)
Economic systems are the ways that
communities decide
● What to produce.
● How to produce.
● How much to produce.
● For whom to produce.
There are three types of economic
systems that communities or countries
use to answer these questions:
● Traditional - customs, habits,
laws, and religious beliefs control
decisions.
● Command - the government
regulates economic activity.
● Market - individuals control
production and distribution resources
and make decisions based on the
market in which they function and how
much they think they can buy and/or
sell in a given time period or place.
The United States economy is
organized around a system of free
markets in which prices for goods and
services are determined by demand
and consumption. In a market
economy, individuals depend on
supply, demand, and prices to
determine the answers to the four
economic questions.
In first grade students were introduced
to the concept of the marketplace in
which people can buy or sell a good or
service.
Trade
Barter
Supply
Demand
Import
Export
Free enterprise
system
price, and
produce the
item for
market.
Keep track
of profits.
Decide as a
group to
whom you
will donate
your profits.
Activities
Use a real-life example of a market such as the Farmer's Market or a
grocery store to help students understand the concept.
Help the students determine that the definition of a market is not
limited to a store or a location such as the Farmer's Market or a Flea
Market.
Students should understand that in a free market economy (such as the
United States) buyers and sellers making exchanges in private
marketplaces set prices for most goods and services.
Given a situation in which a seller of candy bars wants to sell to a
buyer each student should be able to explain that the price reached has
to be satisfactory to both the seller and the buyer and that the
transaction represents a market. Use this example or another similar
one such as a lemonade stand, or trading baseball cards, to discuss the
value of pricing, buying and selling in a ​free market.
Selling in a market economy most often involves the exchange of
coins, cash, or credit. Selling can also involve reaching an agreement
about the worth of a good or service and trading something of value to
"buy" the good/service that is not cash.
Have students use the newspaper, find and cut out ads for a similar
product, and compare the prices for that product among sellers. Have
them determine which is the "best buy" in this free market.
Have students describe in writing a time when they wanted to "sell" or
"trade" a good or service. The paragraph should tell about how they
arrived at a price for their goods or services.
Primary Sources
Websites
CISD 2016, Updated 12/14/16
(8) Economics. The
student understands
how businesses
operate in the U.S.
free enterprise system.
The student is
expected to:
(A) identify examples
of how a simple
business operates;
(Supporting)
Blooms: Understand, Analyze
Businesses use a free market to make
decisions based on economic
questions:
● What to produce?
● How to produce?
● How much to produce?
● For whom to produce?
Businesses also consider the
availability of factors of production in
making decisions about creating a
specific product or service. The factors
of production are:
● Human resources (Labor).
● Natural resources (Land).
● Capital resources (Equipment
and Money for investing in the
business).
Trace a product from a natural
resource to a finished product and
answer the basic economic questions.
For example, ​Publishing a school
newspaper: ​What resources are
involved?
● Human - students to write
articles, a teacher to supervise the
writing, students or adults who help
type the articles, students who
illustrate the articles or make photos.
● Natural - paper (from trees),
ink.
● Capital - computers or
typewriters, copying machines, money
to finance the buying and reproducing
the newspaper, advertisers.
Answer the basic economic questions:
1. What to produce - a school
newspaper.
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Identify
Business
Specialization
Division of labor
interdepenence
Graphic
organizer to
help
students
visualize
grasp ideas
of a small
business
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
The Milkman's Boy by Donald Hall. Walker, 1997.
Activities
Students should understand that business firms are private
organizations that use resources to produce goods and services to earn
a profit.
Help them understand the following definitions:
● Natural resources (Land) are items provided by nature from
which people produce goods and provide services. Examples of
natural resources include water, soil, trees, oil, minerals, fish, etc.
● Human resources (Labor) are the people who work to
produce a good or service. Human resources may include skilled
workers, unskilled workers, or people who provide ideas and expertise
to complete a job (like an engineer drawing the plans for a new bridge
or building).
● Capital resources (Capital) are the tools, machine investment
money, and other tangible resources used to turn natural resources into
finished products or services.
● Usually there is also an Entrepreneur or a "risk-taker" who
invests his/her money in businesses in hopes of making a profit. This
entrepreneur may be the owner of a business or someone else provides
some of the capital resources to begin a new business.
In the example of producing a school newspaper point out to students
that answers to the basic economic questions and the price of
production (Human, Natural and Capital resources) affect the price of
a good or service.
Have students decide on a business that they would like to start and
describe how they would answer the basic economic questions and
detail the factors of production needed for their new business.
Working in groups, have students create a poster using pictures and/or
words, to detail the factors of production and the answers to the basic
economic questions for a business selling "Homemade Chocolate Chip
Cookies"
2.
(8) Economics. The
student understands
how businesses
operate in the U.S.
free enterprise system.
The student is
expected to:
(B) explain how
supply and demand
affect the price of a
good or service;
(Supporting)
How to produce - using
computers and copy
machines.
3. How much to produce - based
on the number of
students/parents in the school
or on subscriptions.
4. For whom to produce - who
would want this newspaper students, parents, teachers, or
other people?
Students were introduced to factors of
production in the second grade. They
should understand that natural
resources, labor and capital are used to
make goods and services. In second
grade students were also introduced to
the process of tracing a product from a
natural resource to a finished product
Blooms: Understand
Students should understand that
● The goal of business is to
earn a profit.
● Profit is the difference
between the cost of producing or
selling a good or service and the value
received from selling the good or
service.
● Profit is the return for
risk-taking by the entrepreneur of the
owner of a business.
Some important definitions are:
● Supply - the amount of goods
and services that producers are willing
to provide at a given price.
● Demand - the amount of
goods and services that consumers are
willing to purchase at a given price.
Two factors of demand are desire for a
product/service and willingness to pay
the asking price.
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Primary Sources
Websites
I Can Be an Entrepreneur
Identify
Supply and
Demand
Good
Service
Price
choice
Compare
and
contrast
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
Introduce these economic concepts and definitions using real-world
examples to which students can relate, i.e., the price of a candy bar, an
Nintendo game or some other "kid" centered product.
Have students compare the prices (using advertisements from the
newspaper or magazines) for an item that they would like to buy
(demand). Have them list the item, the prices they find for that item,
and make a decision about the best place (supply) to buy that item.
Have the students estimate the amount of profit they believe the
manufacturer is making on the sale of that item and what they think it
might cost to produce the item.
Have students answer questions such as the following about supply
and demand, pricing and costs of production:
1. What happens to the price of an item when everyone wants
the item and there is not many of that item available?
● Selling price - in a free
market, the highest amount at which a
producer can sell a given
product/service. The selling price has a
direct relationship to supply and
demand.
The concepts and vocabulary in this
objective are introduced at this grade
level.
2.
3.
4.
What happen to the price of an item when no one really wants
to buy it at the price it is offered in the store?
When something goes "on sale", what effect does that
reduced price have on demand?
When a manufacturer or seller wants to sell a product, what
does he or she have to take into account when they set the
price for the item?
What does the manufacturer have to count when he or she is deciding
on the cost of production?
Explain what would happen if a lot of
people wanted to buy an item but there
was not enough available.
Primary Sources
Websites
(8) Economics. The
student understands
how businesses
operate in the U.S.
free enterprise system.
The student is
expected to:
(C) explain how the
cost of production and
selling price affect
profits;
(Supporting)
Blooms:Understand
● Profit - the amount of value
received after the production costs are
paid.
● Production costs - the amount
an owner of a business must pay for
human (salaries/wages), natural (raw
materials) and capital resources
(machine costs) to produce a
good/service.
The concepts and vocabulary in this
objective are introduced at this grade
level
Explain
Profit
Cost of
production
Selling price
Goods
Services
Producer
Consumer
Human resource
Capital resource
Cross-curric
ular
opportunity
with math
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
Use advertisements from the newspaper to compare prices and discuss
why there might be differences in the price of the same items.
A simple way to introduce the effects of supply and demand to
students is using ​equations or math problems. The examples might
look like this:
Increased demand for a product
+ ​Stable supply
Price increase
Increased supply for a product
+ ​Stable demand
Price decrease
Math connections related to money, prices, and counting. Have
students answer questions such as the following about supply and
demand, pricing and costs of production:
1. What happens to the price of an item when everyone wants
the item and there is not many of that item available?
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2.
3.
4.
5.
What happen to the price of an item when no one really wants
to buy it at the price it is offered in the store?
When something goes "on sale", what effect does that
reduced price have on demand?
When a manufacturer or seller wants to sell a product, what
does he or she have to take into account when they set the
price for the item?
What does the manufacturer have to count when he or she is
deciding on the cost of production?
Have students write ​everyday math problems using prices of common
items. Ask the students to trade math problems with a partner and
work the new problems. Have partners discuss their thinking when
writing the problem and comparing solutions.
Primary Sources
Websites
(8) Economics. The
student understands
how businesses
operate in the U.S.
free enterprise system.
The student is
expected to:
Blooms: Understand
Example of government regulation
-gasoline prices, Tourist tax
(hotels)
(D) explain how
government
regulations and taxes
impact consumer
costs; and
(Supporting)
CISD 2016, Updated 12/14/16
Explain
Consumer cost
Regulation
Tax
Goods
Service
Producer
Consumer
Human resource
Capital resource
Profit
Ongoing
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
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Lessons
(8) Economics. The
student understands
how businesses
operate in the U.S.
free enterprise system.
The student is
expected to:
(E) identify
individuals, past and
present, including
Henry Ford and other
entrepreneurs in the
community such as
Mary Kay Ash,
Wallace Amos,
Milton Hershey, and
Sam Walton, who
have started new
businesses
(Supporting)
Blooms: Understand
Henry Ford​ (1863-1947) helped
create a mobile society by mass
producing and marketing the Model T
automobile. Through his efforts the
automotive industry impacted the
world. While working for various
companies, Ford experimented on
building his own internal-combustion
engine. He drove his first home-built
automobile in 1896. The Ford Motor
Company was founded in 1903 and he
developed the Model T by 1908. Ford
used mass production to reduce the
price of the Model T, and he worked to
perfect the assembly line.
​ ary Kay Ash​ c1918-2001
M
entrepreneur and author, Mary Kay
Ash founded Mary Kay Cosmetics
with over a billion dollars in sales
annually.
Wallace Amos​ (1936- )​-founder of
Famous Amos cookies.
Milton Hershey-1857-1945
entrepreneur and founder of Hershey
Chocolate Company
Sam Walton 1918​- ​founder of
Wal-mart and Sam’s Clubs.
This specific objective is new in this
grade, although students have been
introduced to historic people and
ordinary citizens of the community
taking leadership roles.
CISD 2016, Updated 12/14/16
Identify
Entrepreneur
Free enterprise
Read
alouds
Mini-resear
ch
Children’s Literature
I've Got an Idea: The Story of Frederick McKinley Jones by Gloria M.
Swanson and Margaret V. Ott. Runestone Press/Lerner, 1994.
Radio Boy by Sharon Phillips. Simon & Schuster, 1995.
Rocket! How a Toy Launched the Space Age by Richard Maurer.
Crown, 1995.
Fire Truck Nuts and Bolts by Jerry Boucher. Carolrhoda, 1993.
Activities
Have students respond orally or in writing to the one of the following
prompts:
● What would happen if suddenly all the cars disappeared?
● What would happen if Henry Ford had never invented the
Model T?
● Ask students to describe a new business that they would like
to start in the community.
Use this objective as an opportunity to discuss the importance of
business to a community.
Primary Sources
Websites
(17) Social studies
skills. The student
applies
critical-thinking skills
to organize and use
information acquired
from a variety of valid
sources, including
electronic technology.
The student is
expected to:
(A) research
information, including
historical and current
events, and
geographic data,
about the community
and world, using a
variety of valid print,
oral, visual, and
Internet resources
(17) Social studies
skills. The student
applies
critical-thinking skills
to organize and use
information acquired
from a variety of valid
sources, including
electronic technology.
The student is
expected to:
(B) Sequence and
categorize
information
research
Geographic
Data
Valid print
Internet
resources
Ongoing
Children’s Literature
Activities
Primary Sources
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Sequence
Data
Ongoing
Children’s Literature
Activities
Primary Sources
Websites
(17) Social studies
skills. The student
applies
CISD 2016, Updated 12/14/16
Credit
Credit card
Ongoing
Pearson MyWorld Textbook - Chapter 7
critical-thinking skills
to organize and use
information acquired
from a variety of valid
sources, including
electronic technology.
The student is
expected to:
(C) interpret oral,
visual, and print
material by
identifying the main
idea, distinguishing
between fact and
opinion, identifying
cause and effect, and
comparing and
contrasting;
(17) Social studies
skills. The student
applies
critical-thinking skills
to organize and use
information acquired
from a variety of valid
sources, including
electronic technology.
The student is
expected to:
(D) use various parts
of a source, including
the table of contents,
glossary, and index as
well as keyword
Internet searches, to
locate information;
Savings
Bank
Interest
Deposit
Loan
budget
(17) Social studies
skills. The student
applies
critical-thinking skills
to organize and use
information acquired
Graphs
Charts
Tables
Timelines
Illustrations
CISD 2016, Updated 12/14/16
Children’s Literature
Activities
Primary Sources
Websites
Table of contents
Glossary
Index
Keyword internet
searches
Onging
Children’s Literature
Activities
Primary Sources
Websites
Ongoing
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
from a variety of valid
sources, including
electronic technology.
The student is
expected to:
(E)interpret and create
visuals, including
graphs, charts, tables,
timelines,
illustrations, and
maps;
maps
(17) Social studies
skills. The student
applies
critical-thinking skills
to organize and use
information acquired
from a variety of valid
sources, including
electronic technology.
The student is
expected to:
(F) use appropriate
mathematical skills to
interpret social studies
information such as
maps and graphs
(Processing)
Maps
Graphs
(19) Social studies
skills. The student
uses problem-solving
and decision-making
skills, working
independently and
with others, in a
variety of settings.
The student is
expected to:
Advantage
Disadvantage
Problem
Solution
CISD 2016, Updated 12/14/16
Activities
Primary Sources
Websites
Ongoing
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
Primary Sources
Websites
Ongoing
Children’s Literature
Activities
(A) use a
problem-solving
process to identify a
problem, gather
information, list and
consider options,
consider advantages
and disadvantages,
choose and implement
a solution, and
evaluate the
effectiveness of the
solution; and
(19) Social studies
skills. The student
uses problem-solving
and decision-making
skills, working
independently and
with others, in a
variety of settings.
The student is
expected to:
(B) use a
decision-making
process to identify a
situation that requires
a decision, gather
information, identify
options, predict
consequences, and
take action to
implement a decision.
CISD 2016, Updated 12/14/16
Primary Sources
Websites
Needs
Wants
Scarcity
Abundance
Opportunity
Cost
Value
Ongoing
Pearson MyWorld Textbook - Chapter 7
Children’s Literature
Activities
Primary Sources
Websites