3-Social-Studies-February

Main Concept
Challenge of meeting needs and wants in world communities: Economic Systems Needs & Wants Factors of Production

Guiding Questions
-What's the difference between needs and wants? -How do people in world communities depend on one another to meet their needs and wants? -How do people in world communities locate, develop and make use of natural resources? -How/why are resources important to economic growth in world communities? -For each world community: -What goods and services should be produced and in what quantities? -How are goods and services produced? -For whom should goods and services be produced?

Theme/Content Skills

 * Societies organize their economies to answer three fundamental economic questions: What goods and services should be produced and in what quantities? How shall goods and services be produced? For whom shall goods and services be produced?
 * Human needs and wants differ from place to place.
 * People in world communities make choices due to unlimited needs and wants and limited resources.
 * People in world communities must depend on others to meet their needs and wants.
 * Production, distribution, exchange, and consumption of goods and services are economic decisions all societies must make.
 * People in world communities use human, capital, and natural resources.
 * People in world communities locate, develop, and make use of natural resources.
 * Resources are important to economic growth in world communities.

Key Terms
opportunity cost, scarcity, needs, wants, goods, services, consumer, producer, natural resources, import, export

Holidays
President's Day Valentine's Day Groundhog Day

Student Outcomes
-Students will determine how human needs and wants differ from place to place. -Students will discover why resources are important to economic growth in world communities. -Students will discover how/for whom/what for goods and services are produced. -Students will be able to explain why people in world communities must depend on each other to meet needs/wants.

Assessment/Project
-Divide the class into 4 groups representing food, shelter, clothing, and love. Have each group create a collage of pictures illustrating one of these needs. Suggest that students include pictures of families in all types of communities. Have each group present their collage, explaining how the need pictured is essential to families in any community. //Extension:// Have students write captions for their collages. Make sure they understand the unversality of needs as demonstrated by their collage.

-Have the class create an idea web that answers the question: "How do people fulfill their needs and wants?"

-Have students draw a picture of something they wish they could buy. Discuss the following questions with them: What is the difference between needs and wants? Why do they need or want the item? How will they obtain it? Who else may want the item? //Extension:// Explain the concept of opportunity cost (people may have to give up buying an item want in order to buy another item they need or want)

-Divide the class into groups (or individually). Have each group (or student) research a world community and make a poster that shows people as producers of goods and services and consumers of goods and services.

-Students create a map locating and identifying natural resources or products of a particular continent/region.

Resources for Students
__Jamestown: Struggle for Survival__ by Marcia Sewall __The Rag Coat__ by Lauren Mills __Uncle Jed's Barbershop__ by Marjorie King Mitchell

Resources for Teachers
[|www.ncee.net] (National Council of Economic Education)

Field Trip Suggestions
-South Street Seaport -Farmer's Market