Production, Consumption, Distribution Scarcity and unequal distribution of resources dictate the need for economic systems of exchange, including trade, to improve the well-being of the economy. The role of government in different economic systems varies over time and from place to place, resulting in diverse economic policies. Essential Questions Essential Knowledge Processes/Skills Instructional Resources What factors influence decision making on Learners will understand: Learners will be able to: issues of production, consumption, and How people and communities deal with Ask and find answers. distribution of goods? scarcity of resources. Analyze the The difference between wants and differences between needs. and needs. What people and communities gain and Evaluate how the give up when they make a decision. decisions that people How economic incentives affect people’s make are influenced Lesson: Closing the Riner Cannery, behavior. by the trade-offs of Part 1 The characteristics and functions of different options. Who are the producers around me? money and its uses. Examine and evaluate Lesson: Closing the Riner Cannery, Various organizations that help people different methods for Part 2 achieve their individual economic goals allocating scarce (banks, businesses, labor unions). goods and services in The characteristics of a market the school and economy. community. The goods and services produced in the Assess how consumers market and those produced by the will react to rising and government. falling prices for goods and services. What is my economy? How do I participate?
Production, Consumption, Distribution Scarcity and unequal distribution of resources dictate the need for economic systems of exchange, including trade, to improve the well-being of the economy. The role of government in different economic systems varies over time and from place to place, resulting in diverse economic policies. Essential Questions Essential Knowledge Processes/Skills Instructional Resources What factors influence decision making on issues of production, consumption, and distribution of goods? Who are the producers around me? What is my economy? How do I participate? Learners will understand: How people and communities deal with scarcity of resources. The difference between wants and needs. What people and communities gain and give up when they make a decision. How economic incentives affect people’s behavior. The characteristics and functions of money and its uses. Various organizations that help people achieve their individual economic goals (banks, businesses, labor unions). The characteristics of a market economy. The goods and services produced in the market and those produced by the government. Learners will be able to: Ask and find answers. Analyze the differences between and needs. Evaluate how the decisions that people make are influenced by the trade-offs of different options. Examine and evaluate different methods for allocating scarce goods and services in the school and community. Assess how consumers will react to rising and falling prices for goods and services. Lesson: Closing the Riner Cannery, Part 1 Lesson: Closing the Riner Cannery, Part 2
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