Back to 1st grade

1. 6 Economy

Students understand basic economic concepts and the role of individual choice in a free-market economy.

Understand the concept of exchange and the use of money to purchase goods and services.

How our Economy Works: All about Earning and Spending Money (18:00)
People work to earn money to satisfy their basic needs and wants. Help students understand the two, as well as the difference between goods and services. Explore a variety of jobs, including production and service workers, and introduce students to banks and the concept of saving money.

Learning About Money (15:00)
With the help of two friends, students learn that money has value and comes in many denominations (from a penny to a $100 bill). Students will go inside one of our country's mints to discover how coins are made. Lastly, they will learn that every country has its own unique money and see some of the currencies used in different countries today.

Service Workers: And the Services They Provide (17:00)
Learn about the workers who serve our communities and the services they provide—police officers, fire fighters, sanitation workers, grocery clerks, and others. Discover that providing a service means doing something to help someone else. Hear simple explanations of the terms goods and services, consumers, and income, and learn why people work.

Identify the specialized work that people do to manufacture, transport, and market goods and services and the contributions of those who work in the home.

Production Workers: And the Goods They Make (16:00)
Learn about the people who make or grow the goods we need—production workers. See how these workers make trucks and houses and grow food for the community. Understand simple explanations of the terms goods and services, consumers, income, etc.
Use the following 1 minute clips to talk about the specialized work people do to manufacture
Bread Baking
Pasta Making
BaseBall Bat Factory

How Communities Grow and Change(15:00)
Many large cities grew where the land was livable and it was easy to transport goods. Visit communities that depend on farming, coal mining, oil drilling, forestry, and other industries built around natural resources. What happens to these communities when resources are depleted or demand falls?
The 3 min clip on Communities without people is particulary good to show the relationship between people, jobs and natural resources.