ABSS Social Studies Unit Planning Template
Economics: Survival of the Fittest
Grade Level and/or
Course
Unit Topic
Economics
Suggested Unit Pacing: 4th nine weeks
Conceptual Lens
Needs/Wants, Resources, Supply and Demand, Market Economy, Location
Essential Standards by Strand
Unit Overview
The economic development of a region is driven by forces such as needs and wants, supply and demand, natural resources
and entrepreneurship. A region’s location impacts types of businesses and industries found within its economy.
History
Geography
and &
Environmen
tal Literacy
Civics and
Government
Economics
and PFL
3.G.1.4 Explain how the movement of goods, people and ideas impact the community. (**Previously
taught in-depth in the 3rd nine weeks)
3.C&G.2.1 Exemplify how citizens contribute politically, socially and economically to their community.
(**Previously taught in-depth in the 1st nine weeks)
3.E.1.1 Explain how location impacts supply and demand.
3.E.1.2 Explain how locations of regions and natural resources influence economic development
(industries developed around natural resources, rivers, and coastal towns.)
3.E.2.1 Explain why people become entrepreneurs
3. E.2.2 Give examples of entrepreneurship in various regions of our state.
Culture
Generalizations
History
The movement of
goods, people,
Geography and &
and ideas impact
Environmental
the economic
Literacy
development of a
community.
Civics and
Government
Economics and
PFL
Citizens can
contribute to the
economic
development of
their community.
Guiding Questions C=Conceptual, F=Factual, P=Provacative
History
1. Why do people move to or from a
community? (C)
2. How does movement affect the
citizens in a community? (C)
Geography and & Environmental
Literacy
3. How are goods moved? (F)
4. Why is movement of goods
important to economic success of
a community? (C)
1. How can citizens contribute to the
economic development of their
community? (C)
Civics and Government
2. What is an economy? (F)
Supply and
demand affects
the economic
choices of
individuals.
Economics and PFL
1. What is supply and demand? Give
examples (F)
2. Is it ok to charge higher prices for
items that are in high demand
(price gouging-generators during a
power outage). (P)
3. What are the differences between
wants and needs? (C)
4. Are wants and needs determined
by where you live? (C)
5. What is a market economy? (F)
Resources often
influence
economic growth
in communities.
1. What are natural resources? (F)
2. How are resources used by people
to grow their economy? (C)
The decisions of
people to locate,
develop, and
make use of
natural resources
in particular
regions will
influence
economic
development.
1. How do natural resources in a
particular region influence the
economic development of that
region? (C)
2. Should people have unrestricted
access to natural resources for
economic reasons? (P)
3. What are examples of natural
resources that people use in
industry? (F)
4. Should economic progress
outweigh efforts to conserve
natural resources? (P)
Innovations and
opportunity
encourage people
to take risks as
entrepreneurs.
1. What is an entrepreneur? (F)
2. Who are some famous
entrepreneurs and what
contributions have they made to
the economy? (F)
3. What contributions have
entrepreneurs made to the culture
of a region (ex. Henry Ford)? (C)
4. What are the opportunities and
risks involved in being an
entrepreneur? (C)
Successful
entrepreneurs will
increase their
power and wealth.
1. What are some reasons why
people become entrepreneurs?
(ex. To fill needs of community,
wealth, fame, power, etc.) (C)
2. Should entrepreneurs have more
wealth and power than the workers
who actually make their product or
perform their company’s service?
(P)
3. What makes entrepreneurs
successful? (C)
Entrepreneurs
often make
business
decisions based
on the needs and
desires of
consumers.
1. What types of business decisions
do entrepreneurs make? (F)
2. How do the needs of consumers
influence the decisions of
entrepreneurs? (C)
3. How might the needs of
consumers in one region differ
from those in another region? (C)
Culture
Culture
Critical Content
Students will know:
 The definition of a market
economy
 That human wants and
needs differ from place to
place according to where
one lives
 Examples of the
relationship between
supply and demand
 Natural resources are
substances that exist
naturally in the earth and
were not made by human
beings, such as oil, water,
coal, land, etc.
 People settle around areas
that offer ways of living.
 Entrepreneurs are
individuals who create a
Students will be able to do:
new business providing a
product or service with a
new idea; it can be
something big or small.
 Opportunities and risks are
involved in being an
entrepreneur.
 People become
entrepreneurs for financial
independence and financial
security, desire for
achievement and
fulfillment, a need for stable
income, a desire to be one’s
own boss, etc.
 Financially responsible
people often create goals
and work toward meeting
those goals.
 Entrepreneurship is the
practice of starting a new
business or reviving an
existing business in order
to capitalize on newfound
opportunities.
Learni
ng
Target
s
(Note:
Bold
items
represe
nt
priority
learning
targets.
The
other
nonbolded
learning
targets
are
suggest
ed
extensi
ons to
the
original
target.)
Essent
ial
Termin
ology
Literac
y
Integra
tion
Lesson 1
 I can explain how human wants and needs differ from place to place according to where they live.
o I can define a market economy.
Lesson 2
 I can list examples of the relationship between supply and demand.
o I can summarize how supply and demand affect the economic choices of individuals (i.e. careers,
types of cars made, etc.).
Lesson 3
 I can define natural resources (i.e. oil, water, coal, land, etc.).
 I can explain why people settle around areas that support ways of living.
 I can describe how resources often influence economic growth in communities.
 I can write a summary of how locations of regions and natural resources influence economic
development (industries developed around natural resources, rivers, and coastal towns).
Lesson 4
 I can define what an entrepreneur is and what they do (i.e. someone who starts a new business or
revives an existing business in order to capitalize on financial opportunities).
Lesson 5
 I can list the opportunities and risks involved in being an entrepreneur (i.e. an opportunity is to
own your own business and be your own boss; a risk is losing your money in your business).
o I can explain why people become entrepreneurs.
 I can define entrepreneurship (i.e. the practice of starting a new business or reviving an existing
business in order to capitalize on financial opportunities).
Lesson 6
 I can list examples of entrepreneurship in different regions of North Carolina, such as the
mountain region (i.e. lumber), the piedmont region (i.e. research triangle), and the coastal region
(i.e. tourism, fishing).
o I can compare and contrast, using a graphic organizer, the different entrepreneurships throughout
the regions of North Carolina.
 I can analyze how entrepreneurs often make business decisions based on the needs and desires
of consumers.
Lesson 1: market economy
Lesson 2: supply and demand
Lesson 3: natural resources, regions, and economic growth
Lesson 4: entrepreneur
Lesson 5: product, service, opportunity, risk, entrepreneurship
Lesson 6: region, consumer
3. RI.1 Ask and answer questions to demonstrate understanding of a text, referring explicitly to the text as
the basis for the answers.
3. RI.2 Determine the main idea of a text; recount the key details and explain how they support the main
idea.
Liter 3. RI.4 Determine the meaning of general academic and domain-specific words and phrases in a text
acy
relevant to a grade 3 topic or subject area.
Stan
dard 3. RI.5. Use text features and search tools (e.g., key words, sidebars, hyperlinks) to locate information
relevant to a given topic efficiently.
s
3. RI.7 Use information gained from illustrations (e.g., maps, photographs) and the words in a text to
demonstrate understanding of the text (e.g., where, when, why, and how key events occur).
3. RI.8 Describe the logical connection between particular sentences and paragraphs in a text (e.g.,
comparison, cause/effect, first/second/third in a sequence).
3. RI.9 Compare and contrast the most important points and key details presented in two texts on the same
topic.
3. RI.10 By the end of the year read and comprehend informational texts, including history/social studies,
science, and technical texts, at the high end of the grades 2–3 text complexity band independently and
proficiently.
3.W.2 Write informative texts to examine a topic and convey ideas clearly.
3.W.7 Conduct short research projects that build knowledge about a topic.
3.W.8 Gather information from print and digital sources; take brief notes on sources and sort evidence into
provided categories
3.SL.1 Engage effectively in a range of collaborative discussions with diverse partners on grade 3 topics
and texts, building on other’s ideas and expressing their own clearly.
3.RF.4 Read with sufficient accuracy and fluency to support comprehension
Liter Lesson 1-5
atur Book lists and suggestions at:
e
http://www.udel.edu/dssep/histlit/histread34.htm
Con
necti http://www.the-best-childrens-books.org
ons
Techn
ology
Integra
tion
Tech
nolo
gy
Stan
dard
s
Web
sites
For
mati
ve
Asses
sment
Perf
orm
ance
Task
s
3.IN.1. I can use visual and literacy cues to locate relevant information in a given text (e.g., bold print,
italics, bullets, etc.).
3.TT.1.1. I can use a variety of technology tools to gather data and information (e.g., Web-based
resources, e-books, online communication tools, etc.).
3.RP.1.1 I can implement a research process by collaborating effectively with other students
3.SE.1.1. I can understand the guidelines for responsible use of technology hardware.
3.SE.1.3. I can understand ethical behavior (copyright, not plagiarizing, netiquette) when using resources.
-See hyperlinks in other sections such as literature connections, assessment, and learning plan.
Lesson 3: Students will write a summary of how locations of regions and natural resources influence
economic development.
Lesson 3: “There’s No Place Like Home”-Students will complete a map that traces the migration route of a
pioneer family.
http://education.nationalgeographic.com/archive/xpeditions/lessons/12/g35/home.html?ar_a=1
Lesson 4: Make a timeline or conduct a biography study of a famous entrepreneur.
Lesson 6: “To Market, To Market”- Students will create a marketable item to sell in the classroom
marketplace and will analyze the sales of their item to determine how to increase sales in the future (supply
and demand, wants/needs, etc.) http://www.econedlink.org/lessons/index.php?lid=357&type=educator
See suggested resources listed in literacy integration, assessment, learning plan, re-teaching, and enrichment.
Other Financial Literacy Resources:
-The Mint.org www.themint.org/kids/
-Activities and Lessons for Kids’ Banking-includes role-playing, videos, etc. www.squidoo.com/k12-kids-andmoney
-Economics and Personal Finance Lessons for K-12 www.econedlink.org
-Econopolis http://library.thinkquest.org/3901/
Sum
mati
ve
Resou
rces
Learni
ng
Plan
Instructional
Sequence
Lesson 1
 I can explain how human wants and needs differ from place to place according to where
they live.
-Discovery Education video-“Economics: The production, distribution, and consumption of
goods and services: needs and wants”
http://app.discoveryeducation.com/search?Ntt=needs+and+wants&N=4294939055
-Discovery Education video-“Economy In and Between Communities”
http://app.discoveryeducation.com/search?Ntt=needs+and+wants&N=4294939055
Lesson 2
 I can list examples of the relationship between supply and demand.
What Is Supply and Demand by Paul Challen
-Supply and Demand Brainpop
http://www.brainpop.com/socialstudies/economics/supplyanddemand/preview.weml
-Teacher and the Rockbots: Supply and Demand song on Discovery Education
http://app.discoveryeducation.com/search?Ntt=supply+and+demand
-Lyrics for Teacher and the Rockbots
http://www.totally3rdgrade.com/supply_and_demand.html
-Lesson plans about supply and demand
http://www.vrml.k12.la.us/3rd/homework/ss/ss/3rd_ss_units/un5/3rd_Un5Act7/Un5Act7.ht
m
http://www.vrml.k12.la.us/3rd/homework/ss/ss/3rd_ss_units/un7/3rd_Un7Act8/Un7Act8.ht
m
Lesson 3
 I can define natural resources (i.e. oil, water, coal, land, etc.).
-Discovery Education video-“Learning About Natural Resources”
http://app.discoveryeducation.com/search?Ntt=natural+resources&N=4294939055
-Resources for teaching Natural Resources-gives videos, games, etc.
http://www.neok12.com/Natural-Resources.htm
-Where Did That Pencil Come From? The Study of Natural Resources
www.econedlink.org/lessons/index.php?lid=303&type=educator
 I can explain why people settle around areas that support ways of living.
-“There’s No Place Like Home” lesson plan from National Geographic Archived Lessons
(students map the settlement route of the family from the Little House on the Prairie books
(Laura Ingalls Wilder) and discuss what characteristics of the region prompted the family
to settle there or move from there (natural resources).
http://education.nationalgeographic.com/archive/xpeditions/lessons/12/g35/home.html?ar_
a=1
 I can write a summary of how locations of regions and natural resources influence
economic development (industries developed around natural resources, rivers, and
coastal towns).
-Market Manager game (allows students to build an ice cream business and see how size
of populations within each region influence economic development).
http://www.fedstats.gov/kids/mapstats/icecream_game.html (Scroll down>Market
Manager>Next>Country>Easy>Click on any color>choose the region to color
code>Interpret data on graph)
 I can describe how resources often influence economic growth in communities.
-What is Scarcity of Resources? by Jessica Cohn
-Discovery Education video-“Regions of the United States: The Southeast Region”
http://app.discoveryeducation.com/search?Ntt=natural+resources+and+economy&N=4294
939055#selItemsPerPage=20&intCurrentPage=1&No=20&N=4294939055&Ne=&Ntt=natu
ral%2Bresources%2Band%2Beconomy&Ns=&Nr=&browseFilter=&indexVersion=&Ntk=
Lesson 4
 I can define what an entrepreneur is and what they do (i.e. someone who starts a new
business or revives an existing business in order to capitalize on financial
opportunities).
-Spotlighting Entrepreneurs: The Sweet Success of Milton Hershey
www.econedlink.org/lessons/index.php?lid=1069&type=educator
-Milton Hershey: Young Chocolatier by M.M. Eboch
-The Toothpaste Millionaire by Jean Merrill
-Who Was Walt Disney? by Whitney Stewart
-Who Was Steve Jobs? by Pam Pollack and Meg Belviso
-Time for Kids Biographies: Henry Ford by the Editors of Time for Kids
Lesson 5
 I can list the opportunities and risks involved in being an entrepreneur (i.e. an
opportunity is to own your own business and be your own boss, a risk is losing your
money in your business).
-Teaching Kids Business.com-Entrepreneurship
www.teachingkidsbusiness.com/entrepreneurship-program.htm
 I can define entrepreneurship (i.e. the practice of starting a new business or reviving an
existing business in order to capitalize on financial opportunities).
 I Can Be an Entrepreneur
http://www.econedlink.org/lessons/index.php?lid=476&type=educator
Lesson 6
 I can list examples of entrepreneurship in different regions of North Carolina, such as
the mountain region (i.e. lumber), the piedmont region (i.e. research triangle), and the
coastal region (i.e. tourism, fishing).
-North Carolina’s Three Distinctive Regions http://www.visitnc.com/journeys/articles/factsfigures/1/north-carolina-s-three-distinctive-regions
-North Carolina Encyclopedia: Industry http://ncpedia.org/industry
 I can analyze how entrepreneurs often make business decisions based on the needs
and desires of consumers.
-To Market, To Market
http://www.econedlink.org/lessons/index.php?lid=357&type=educator
Remediation
Differe
ntiatio
n
Needs and Want Lesson- A Chair for My Mother
http://learningtogive.org/lessons/unit202/lesson1.html
Review with students the difference between needs and wants and the importance of helping other
in a community.
Great lesson ideas – requires free, temporary membership to access plans.
www.moneyinstructor.com/classeconomy.asp
Recommend downloading everything you’re interested in offering during trial membership!
Junior Achievement also offers a 3rd grade program on communities and businesses.
Enrichment
Read aloud of Lawnboy, by Gary Paulsen