WS/FCS
Unit Planning Organizer
Subject(s)
Grade/Course
Unit of Study
Unit Title
Pacing
Social Studies
Second
Unit 3
Economics
26-28 days





Conceptual Lenses
Supply
Demand
Needs and Wants
Trade
Consumer Goods
Unit Overview
The points of focus for this unit include the role of economics in our community. Students will
develop an understanding of –







The basic concepts of economics.
The way businesses in our community meet the needs and wants of the consumers
that live there.
The roles of a producer and consumer and the impact they have on our community.
The concept of supply and demand.
People and countries from around the world trade goods and services.
Money can be saved, spent, borrowed, and given away.
How people can use financial institutions to save money.
Unit Enduring Understanding(s)









Businesses in the community meet the
needs and wants of consumers.
What community members buy, impacts
what goods and services are produced.
People can be consumers and producers.
Sometimes people have to use trade to
meet their needs and wants.
Supply and demand determines the
decisions that businesses make.
World trade helps provide consumers with a
wider variety of goods often at a lower rate.
Countries can trade goods and services.
Responsible people need to make good
choices about how to save and spend
money.
Financial institutions such as banks, try to
influence people to save.
Unit Essential Question(s)








How do businesses meet the needs and
wants of a consumer within a
community?
How do community members impact the
goods and services that are produced?
Why do people need to use trade?
How does supply and demand impact a
business’s decisions?
How is world trade helpful to consumers?
What goods and service do countries
trade and how is this helpful to our
community?
What are good choices people can make
about spending and saving money?
Why do financial institutions encourage
people to save money?
Essential State Standards
Priority Objectives
Supporting Objectives
 2.E.1.1 Give examples of ways in which
businesses in the community meet the
needs and wants of consumers.
 2.E.1.2 Explain the roles and impact
producers and consumers have on the
economy.
 2.E.1.3 Summarize the concept of supply
and demand.
 2.E.1.4 Explain why people and countries
around the world trade for goods and
services.
 2.E.1.5 Explain how money is used for
saving, spending, borrowing and giving.
 2.E.1.6 Summarize the role of financial
institutions relative to savings.
“Unpacked” Concepts
(students need to know)
Businesses make money
when they sell goods and
services and incur cost when
they hire employees.



The cost to make a product
(good) and the demand for it
determines the amount it is
sold for.

Trading or bartering is when
you exchange one thing for
another.

Since people cannot produce
everything that consumers
want, they depend on trade to
provide it.
People can earn money to
spend or save as they
choose.






 2.G.2.1 Give examples of ways in which
people depend on the physical
environment and natural resources to
meet basic needs.
 2.C.1.1 Explain how artistic expressions of
diverse cultures contribute to the
community (stories, art, music, food, etc.).
“Unpacked” Skills
(students need to be able to do)
Understand the difference between a
want and a need
Exemplify what businesses are in the
local community
Understand the difference between a
consumer and a producer
Understand the difference between
trading (bartering) and money
Summarize what a market economy is
Describe how consumers and producers
have an impact on the economy
Understand that economics is how a
community makes decisions that
affectively meet the needs and wants of a
consumer
Summarize the importance of saving
money and how financial institutions can
help
Understand how money is transferred to
a good
Understand how a performance is a
service
Understand how money can be given,
borrowed, and saved
COGNITION
(RBT Level)


Understand
Apply








Essential Vocabulary
Market economy (A market economy
answers the questions of what gets
produced, how it is produced, and who
receives it, and how it meets the needs and
wants of consumers.)
Consumer
Producer
Goods
Services
Needs
Wants
Trade
Standards
2.E.1.1
Give examples
of ways in which
businesses in
the community
meet the needs
and wants of
consumers.
Unit “Chunking”
& Enduring
Understandings






Enrichment Vocabulary
Scarcity
Revenue
Resource
Barter
Financial Institution
Transfer
Suggested Lesson
Essential Questions
Business is a
What is a want/need?
community impact
economic wants
of consumers.
How do you identify
business in the local
community?
How do businesses
function?
What is economics?
Possible Factual
Content
Wants/needs
Businesses incur
costs by hiring
individuals and
earn revenue by
selling goods and
services.
The language of
economics
includes scarcity,
resource,
revenue,
consumer,
producer, etc.
Example(s)
from
Unpacked
Standards
How do you define a
market economy?
.
People can be
2.E.1.2
Explain the roles both producer
and consumer.
and impact
producers and
consumers have
on the economy.
A market
economy answers
the questions of
what gets
produced, how it
is produced, and
who receives it,
and how it meets
the needs and
wants of
consumers.
How does a market
economy answer the
question of what is
produced?
How does a market
economy answer the
question of how it is
produced?
How does a market
economy answer the
question of who receives
what is produced?
How does a market
economy meet the
needs and wants of
consumers?
Clothes
produced in
factories meet
consumer
needs/wants,
grocery stores
supply food
products
because
consumers
need them.
What is a
producer/consumer?
Definition of
producer,
consumer,
choice.
What is the impact
producers and
consumers have on
what goods and services
are produced?
Examples to
show the impact
that produces and
consumers have
on the economy.
How can people get the
goods and services they
need if they cannot
produce them?
2.E.1.3
Summarize the
concept of
supply and
demand.
Business
decisions are
influenced by
supply and
demand.
What is supply/demand?
What determines the
price of a good?
2.E.1.4
Explain why
people and
countries
around the
world trade for
goods and
services.
World trade often What is world trade and
impacts economic how does it affect the
efficiency be
economy?
providing a wider
variety of goods,
often at lower
manufacturing
costs.
Because people
cannot produce
everything that
consumers want,
people depend on
trade with others
to meet their
wants and needs.
Economic
language of
economics such
as the concept of
supply and
demand.
The price of a
good is
determined by the
cost to produce it
and the demand
of a product.
World trade often
impacts economic
efficiency be
providing a wider
variety of goods,
often at lower
manufacturing
costs.
Countries trade in
both goods and
services.
What does it mean to
trade or barter?
Exchanging one
thing for another
Why do people use
barter or trade to meet
their needs and wants?
People cannot
produce
everything that
consumers want
and depend on
trade with other to
meet their wants
and needs.
How the
American
Indians traded
furs, shells,
etc. for items
of need.
2.E.1.5
Explain how
money is used
for saving,
spending,
borrowing and
giving.
Responsible
individuals use
good decisionmaking when
using money for
spending and
saving.
What is the difference
between barter/trade
and money?
How do people earn
money?
How do people use good
decision-making when
using their money for
spending and saving?
How is money used in
spending, saving,
borrowing, and giving?
People can earn
money (income)
that can be spent
or saved as they
choose.
People can earn
money (income)
that can be spent
or saved as they
choose.
Ways money is
transferred for
goods, the
performance of a
service,
borrowing and
saving.
Money can be
used in various
ways.
What are the
advantages of saving
money?
What are the
disadvantages of
spending money?
Saving money
allows you to
buy things you
need and
want.
Not saving
money will
limit buying
needs and
wants which
may cause
you to go
without,
borrow, or
give.
2.E.1.6
Summarize the
role of financial
institutions
relative to
savings.
Financial
institutions often
influence people
to save.
What is a financial
institution?
How do financial
institutions help people?
What is the role of
financial institutions in
their community?
Bank etc.
They assist
people (e.g.,
opening an
account, etc.) in
saving money.