Economics Lesson Plan Day One
Purpose:
Today is the first in a series of several lessons that deals with goods and services and producers and consumers. Today is a review of material previously learned to scaffold for important material the teacher will teach in days to come. Today we will review the definition and characteristics of each term and have students review similarities and differences of goods, services, producers, and consumers.
VA SOLs
Economics
1.7 The student will explain the difference between goods and services and describe how people are consumers and producers of goods and services.
Objective:
The student will be able to sort good and services when given a list of goods and services examples with 100% accuracy.
Procedure:
Introduction:
- Introduce economics to students- how businesses work
- Use the Brain pop video to review the terms and examples of each. (A, V)
- The video is a review of first grade information to help with new material.
●What are goods? Things that are made or grown (clothes, fruits/vegetables)
●What are services? Work that someone does for someone else (dentist, bus driver)
●Who provides goods & services? producers
●Who are producers? People who make goods or provide services
●Who are consumers? Someone who buys goods or services
●How do producers and consumers affect one another? Producers supply is available to consumers
Development:
- Have students brainstorm the definition and characteristics of goods, services, producers, consumers
- Create two anchor chart venn diagrams (Compare: Goods and services) (Compare: Producers and Consumers)
- Ask the students to turn to their partner and ask them to tell their partner what a producer is and what a consumer is and examples of each
- Select students to share their answers with the class and record answers on a chart paper venn diagram
- Ask students to turn to their partner and ask them to tell their partner the definition and examples of goods and services and record those answers on a chart paper venn diagram
- Evaluate answers as they are given to see how students are understanding the material
- Note where students are in their own development (got it, developing, or struggling)
Got it :) / Working on it / Struggling :(
- Introduce Market Day to students (An economics event to solidify their knowledge)
- This will be a fun event we have at the end of our unit
- The teacher will assign partners and the partners will come up with a good or service to “sell” to the other students
- We will develop a business plan and an advertisement to help “sell” the items
- Each student will get a set amount of money (Monopoly) to “buy” goods and services from each other
- Assign partners for Market Day (Together during the unit they will develop a business plan, construct a good or service to sell on Market Day or the end of the unit, and develop an advertisement for their business)
Summary:
The teacher will ask students if anyone has questions about goods, services, consumers, and producers or examples.
Goods and services sort where the students will color a page with good and services on them. Then they will cut them out and paste them on another paper that will be pre-labeled and divided for goods and services.
Materials:
●Computer
●Brain pop video
●Chart paper
●Markers
●Partner assignments
●Scissors
●Glue
●Crayons or colored pencils
●Goods and services Sort Worksheet
Evaluation Part A:
Goods and Services Sort Worksheet
The student wrote their name at the top.
The student colored, cut, and pasted goods and services into their correct columns.
The teacher will look for items for sale under the goods column such as balloons or a football.
The teacher will look for people who provide services to be under the services column.
Evaluation Part B:
Did your lesson accommodate/address the needs of all your learners?
What were the strengths of the lesson?
What were the weaknesses?
How would you change the lesson if you could teach it again?
How did I manage the small groups/partners?