3rd Grade Michigan Economy Unit Plan

Grade Level Content Expectations (GLCEs) and Content Standards, and Anti-Bias
Standards

3 – E1.0.1 Using a Michigan example, explain how scarcity, choice, and opportunity
cost affect what is produced and consumed.

3 – E1.0.2 Identify incentives (e.g., sales, coupons) that influence economic

decisions people make in Michigan.

3 – E1.0.3 Analyze how Michigan’s location and natural resources influenced its
economic development (e.g., how waterways and other natural resources have
influenced economic activities such as mining, lumbering, automobile manufacturing,
furniture making, and tourism).

ELA Standards:

CCSS.ELA-LITERACY.RI.3.7Use
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).

CCSS.ELA-LITERACY.SL.3.1Engage effectively in a range of collaborative discussions

(one-on-one, in groups, and teacher-led) with diverse partners on grade 3 topics and
texts, building on others' ideas and expressing their own clearly.

Math Standards:

CCSS.MATH.CONTENT.3.MD.B.3

Draw a scaled picture graph and a scaled bar graph to represent a data set with
several categories. Solve one- and two-step "how many more" and "how many less"
problems using information presented in scaled bar graphs. For example, draw a bar
graph in which each square in the bar graph might represent 5 pets.

Anti-Bias Standards:

JU.3-5.12 I know when people are treated unfairly, and I can give examples of prejudice words, pictures
and rules.

JU.3-5.14 I know that life is easier for some people and harder for others based on who they are and
where they were born.
AC.3-5.16 I pay attention to how people (including myself ) are treated, and I try to treat others how I like
to be treated.

Big Powerful Ideas

- Interdependence of economy
- A community interacts with goods and services to influence its economy
- Understand how human activities help shape the Earth’s surface.
- Understand the effects of human-environment interactions.
- Use fundamental principles and concepts of economics to understand economic activity
in a market economy.

Essential Questions
- How do different parts of the economy depend on one another?

- How can strong community improve the economy? How can strong economy improve
community?
- How do Natural Resources impact the economy?
- How do you and your family interact with the economy?

Unit Objectives
1. Students will be able to explain scarcity and how it affects what is produced and
consumed using a Michigan example.
2. Students will be able to explain opportunity cost and how it affects what is produced and
consumed using a Michigan example.
3. Students will be able to identify incentives that influence economic decisions and explain
how they are an incentive.
4. Students will be able to describe the difference between goods and services and how
they affect the economy.
5. Students will be able to describe Michigan’s natural resources.
6. Students will be able to explain how Michigan’s natural resources influence economic
development
7. Students will be able to describe different types of Michigan economic activity and how
location plays a role.
8. Students will be able to describe movements of goods to and from Michigan
Rationale:
What are you teaching?
Students will learn that communities work
and individual citizens contribute to be part of understand that we are all apart of a
and add to their economy to benefit everyone community and we contribute different things
Students will be learning about their own
economy and how natural resources in their
own state are part of your economy
Students will need to understand that there
is cause and effect; when one action takes
place it causes other events to take place
Students will participate in a simulation
about the economy. They will understand the
need for natural resources, the connections
of communities and the interdependence of
our society
Students will be using their knowledge of the
real world and their skills built in other
subjects.
Why you are teaching this?
(Must align with the 5 elements of powerful
social studies)
Value-Based: It is important that students
to our community to help the economy run
Meaningful: Students will be able to relate real
life examples and experiences with economy.
Challenging: It is important for students to
know why things happen and how it effects
things in our economy.
Active: It is important that students are given
multiple opportunities and a variety of
experiences to understand the objectives.
Integrative: It is important for students to see
the integration of math and how it plays a
crucial role in economy. They also will need to
 use their reading skills to access some of the
information needed to learn about economics.

End-of-Unit Performance Task

2 - Defines scarce
1. What does scarcity mean? Give an points - Gives example
example of how scarcity can affect
Michigan’s economy in the winter.

1 point - Defines opportunity cost

2. What is opportunity cost? What - Answers grocery store
would be the opportunity of going to question
the grocery store and spending all
your money on a candy bar but even
though you wanted to buy a candy
bar AND 3 apples?

1 point - Can use an example to

3. How does an incentive influence how explain (does not need to
the choices people make? (use an be from the simulation)
example like the ones we discussed
with the part planning committee to
help you answer the question)

2 - Can explain and give

4. What is a good and give an example? example of a good
What is a service and give an - Can explain and give an
example? example of a service

1 - Can list 3 natural

5. List 3 of Michigan’s natural resources resources
 2 - Can identify and describe
6. How do Michigan’s natural resources impact on economy
impact the economy?

3 - Example of tourism
7. How does Michigan participate in - Example of manufacturing
Tourism, Manufacturing and - Example of agriculture
Agriculture?

3 - Can define export

8. What are imports? What are exports? - Can define import
Why are they important to Michigan’s - Can explain why each
economy? matter to MI economy

Learning Plan
Linguistic, social and academic challenges, resources and supports

Student Description of their Accommodations/Modifications/Scaffolding to

Linguistic, Social, or Academic Address Student’s Needs
Needs

Some students read at a low DRA Allowing these students to work in groups will give
level, meaning they will need extra them the support they need to read the text and
support when looking at texts. complete the different tasks. They will also have the
opportunity to

Some students struggle to agree with
classmates.
These students will be able to work as an individual
on their assignments. Because of this, the length of
their assignments will be a bit less and I will check in
with them more frequently to allow them discussion
time.
Some students have a hard time
working with a partner or in a group
Some students have a challenging
time dealing with frustration and other
emotions that prevent them from
learning.
These students can have the choice to work on their
own or they will be paired with a student they can
work well with. They will also be given the
opportunity to take a rest and return
There will be a variety of activities and groupings to
try to reach all students' needs. If a student needs a
break they will be invited to have a rest and return.
This will also try to be avoided by strategic grouping
of students.
Overview
Day 1
Lesson Title:
Intro to Economics
GLCE(s): Which standards
will this lesson address?
3 – E1.0.3 Analyze how
Michigan’s location and
natural resources
influenced its
economic development
(e.g., how waterways and
other natural resources
have influenced economic
activities such as mining,
lumbering, automobile
manufacturing, furniture
making, and tourism).
Day 2 Day 3
Lesson Title: Lesson Title:
Opportunity cost and scarcity Opportunity cost, scarcity, and
incentives
GLCE(s): Which standards will GLCE(s): Which standards will
this lesson address? this lesson address?
3 – E1.0.1 Using a Michigan 3 – E1.0.1 Using a Michigan
example, explain how scarcity, example, explain how scarcity,
choice, and opportuni- ty cost choice, and opportuni- ty cost
affect what is produced and affect what is produced and
consumed. consumed.
3 – E1.0.2 Identify incentives
(e.g., sales, coupons) that
influence economic
decisions people make in
Michigan.
Daily Objective(s): What will
students be able to do?
Students will be able to
describe Michigan’s natural
resources.
Students will be able to
explain how Michigans’s
natural resources influence
economic development
Assessment: How will you
know if all students are
meeting the objective(s)?
Exit ticket about natural
resources.
Daily Objective(s): What will
students be able to do?
Students will be able to explain
scarcity and how it affects what
is produced and consumed
using a Michigan example.
Students will be able to explain
opportunity cost and how it
affects what is produced and
consumed using a Michigan
example.
Assessment: How will you
know if all students are meeting
the objective(s)?
Informative assessment with
observations of the room while
students are completing
scenario stations. There will
also be an exit ticket.
Daily Objective(s): What will
students be able to do?
Students will be able to explain
scarcity and how it affects what
is produced and consumed using
a Michigan example.
Students will be able to explain
opportunity cost and how it
affects what is produced and
consumed using a Michigan
example.
Students will be able to identify
incentives that influence
economic decisions and explain
how they are an incentive.
Assessment: How will you know
if all students are meeting the
objective(s)?
Informative assessment with an
exit ticket.
Student Adaption(s): How
are you planning for diverse
learners?
Students can draw the natural
resources instead of writing
examples
Lesson Alignment: How does
this lesson engage your
students in the larger
goals/objectives of the unit?
Students will begin to think
about what economics is
Day 4
Lesson Title:
A Closer Look at Michigan
Student Adaption(s): How are
you planning for diverse
learners?
Student pairs will be made
based on learners needs and
who they work well with.
Strong readers will be paired
with approaching readers.
Lesson Alignment: How does
this lesson engage your students
in the larger goals/objectives of
the unit?
Students will begin to
understand the basics of
opportunity cost and scarcity to
apply it to Michigan scenarios
Day 5
Lesson Title:
Import v Export
Student Adaption(s): How are
you planning for diverse
learners?
Student pairs will be made
based on learners needs and who
they work well with. Strong
readers will be paired with
approaching readers.
Lesson Alignment: How does
this lesson engage your students
in the larger goals/objectives of
your unit?
Students will deepen their
understanding of the basics of
opportunity cost and scarcity to
apply it to Michigan scenarios.
They will also begin thinking
about incentives in the economy.
Day 6
Lesson Title:
MI Government and Economy
GLCE(s): Which standards GLCE(s): Which standards will GLCE(s): Which standards will
will this lesson address? this lesson address? this lesson address?

3 – E1.0.3 Analyze 3 – G4.0.3 Describe some of 3 – G4.0.3 Describe some of

how Michigan’s the current movements of the current movements of
location and goods, people, jobs, or goods, people, jobs, or
natural resources information to, from, or within information to, from, or within
Michigan and explain reasons Michigan and explain reasons
influenced its
for the movements. for the movements.
economic development
(e.g., how waterways
and other natural
resources have
influenced economic
activities such as mining,
lumbering, automobile
manufacturing, furniture
making, and tourism).

3 – G4.0.1 Describe major

kinds of economic activity
in Michigan today, such as
agriculture, forestry,
manufacturing, services
and tourism, and research
and development, and
explain the factors
influencing the location of
these economic activities.
Daily Objective(s): What will
students be able to do?
Students will identify the
economic areas of Michigan
and discuss/describe them.
- Agriculture
- Manufacturing
- Tourism
They will also discuss the
importance of Natural
Resources
Assessment: How will you
know if all students are
meeting the objective(s)?
Students will be able to
explain what these different
parts of Michigan’s economy
are dependent upon (what
crops are grown, products are
made and locations are
visited)
Daily Objective(s): What will
students be able to do?
Students will look at a variety of
goods to see where they were
made.
Students will identify the
difference between imports and
exports
Students will explain the
importance of imports and
exports
Assessment: How will you know
if all students are meeting the
objective(s)?
Students will be able to explain
what important imports and
exports are when it comes to
automobiles.
Daily Objective(s): What will
students be able to do?
Students will read and discuss
Qs about Michigan Government
and Economy.
Assessment: How will you know
if all students are meeting the
objective(s)?
Students will do a sort of taxes,
fees and fines
Students will complete an exit
ticket
Student Adaptation(s): How
are you planning for diverse
learners?
Students will have a partner
reader if they need one.
Students will be provided
with a space to take organized
notes in a graphic organizer.
Lesson Alignment: How
does this lesson engage your
students in the larger
goals/objectives of the unit?
Students are starting to see
how these concepts are
applicable to Michigan
Day 7
Lesson Title:
Party Planning Committee
Student Adaptation(s): How
are you planning for diverse
learners?
Students will have a partner
reader if they need one.
Lesson Alignment: How does
this lesson engage your students
in the larger goals/objectives of
the unit?
Students are going to see that
Michigan cannot have an
economy all by itself - a
precursor to interdependence
Day 8
Lesson Title:
Interdependence
Student Adaptation(s): How
are you planning for diverse
learners?
Students will have a partner
reader if they need one.
Lesson Alignment: How does
this lesson engage your students
in the larger goals/objectives of
the unit?
Students will see the way
Michigan is able to create jobs
and make money to support the
different parts of its economy,
allowing the state to function.
Day 9
Lesson Title:
Future of Michigan’s Economy
GLCE(s): Which standards
will this lesson address?
3 – E1.0.1 Using a
Michigan example, explain
how scarcity, choice, and
opportuni- ty cost affect
what is produced and
consumed.
3 – E1.0.2 Identify
incentives (e.g., sales,
coupons) that influence
economic decisions people
make in Michigan.
Daily Objective(s): What will
students be able to do?
Students will be able to
participate in an economic
simulation that asks them to
make decisions to plan a
party. The will make choices
of locations, food, decorations
and ticket prices. They will be
making decisions that create
opportunity cost and depend
upon different types of
resources.
GLCE(s): Which standards will
this lesson address?
3 – E1.0.1 Using a
Michigan example, explain
how scarcity, choice, and
opportuni- ty cost affect
what is produced and
consumed.
Daily Objective(s): What will
students be able to do?
Students will be able to explain
interdependence that the different
aspects of the economy rely on
and are affected by. They will be
able to give examples.
GLCE(s): Which standards will
this lesson address?
3 – G4.0.3 Describe some of
the current movements of
goods, people, jobs, or
information to, from, or within
Michigan and explain reasons
for the movements.
Daily Objective(s): What will
students be able to do?
Students will learn about
renewable and nonrenewable
energy and how it interacts with
our economy. They will be able
to explain the importance of
renewable resources and
examples of them..
Assessment: How will you
know if all students are
meeting the objective(s)?
Students will identify:
budget, natural resources,
capital resources, human
resources, scarcity, limited
resources, opportunity cost,
incentive
Student Adaptation(s): How
are you planning for diverse
learners?
Students will be working in
heterogeneous ability groups.
Students will be given written
options and circle their
choices (instead of writing it
all out) and then will be
annotating this paper as they
work.
Assessment: How will you know
if all students are meeting the
objective(s)?
Students will complete an exit
ticket that describes the way
interdependence affects a grocery
store. (A picture of a grocery
store will be on the exit ticket)
Student Adaptation(s): How
are you planning for diverse
learners?
Some students will have a
reading buddy in case they need
assistance. Students will be
making notes as they read,
underlining important parts of
the text.
Assessment: How will you know
if all students are meeting the
objective(s)?
Exit ticket: What is a renewable
resource? Pick one renewable
resource and describe it with
words and a picture.
Student Adaptation(s): How
are you planning for diverse
learners?
Students will be able to watch a
video that explains how these
types of energy work and why
they are important. This visual
will help understanding beyond
the reading and diagrams.
Students will also be using
written word and drawn picture
to answer their exit ticket.
Lesson Alignment: How
does this lesson engage your
students in the larger
goals/objectives of the unit?
This engages students by
giving them the chance to
actually participate in what an
economy is like. It will
hopefully allow them to
internalize the different parts
of the economy. It will also tie
in the ideas that have been
discussed in the prior lessons
and apply them to the
simulation
Day __10
Lesson Title:
This is Economy
Lesson Alignment: How does
this lesson engage your students
in the larger goals/objectives of
the unit?
Students will be using their prior
knowledge of Michigan’s
economy to discuss how the
different parts work together. It
will show them that an economy
is dependent upon more than just
a single transaction
Lesson Alignment: How does
this lesson engage your students
in the larger goals/objectives of
the unit?
This builds upon what has
already been discussed:
Michigan’s past and current
economy and how they will be
influenced by renewable energy
in the future.
GLCE(s): Which standards will this
lesson address?

3 – E1.0.3 Analyze how

Michigan’s location and natural
resources influenced its
economic development (e.g.,
how waterways and other natural
resources have influenced
economic activities such as
mining, lumbering, automobile
manufacturing, furniture making,
and tourism).

3 – G4.0.1 Describe major kinds

of economic activity in Michigan
today, such as agriculture,
forestry, manufacturing, services
and tourism, and research and
development, and explain the
factors influencing the location of
these economic activities.

Daily Objective(s): What will students

be able to do?

Students will work together to answer

discussion questions about Michigan
Economy (Jeopardy style)
Assessment: How will you know if all
students are meeting the objective(s)?

As students are discussing and

answering questions, take note of what
they are saying to see if they have
understood the questions and know how
to respond

Student Adaptation(s): How are you

planning for diverse learners?

Students will be in heterogeneous

groups and will be given pencil and
paper to record ideas before sharing out.
Students will also be given ample time
to discuss their group’s response
Lesson Alignment: How does this
lesson engage your students in the
larger goals/objectives of the unit?

This lesson take all information learned

and discussed and allows students to
have conversations and present their
thoughts to the class.
 “Intro to Economics” TE803 Social Studies
Lesson #1

Date: 3/16/20 (day 1 in unit) Lesson Duration: 45 minutes

Topic: Economics Grade: 3rd

Objectives:

● Students will be able to describe Michigan’s natural resources.

● Students will be able to explain how Michigans’s natural resources influence economic
development

Standard: 3 – E1.0.3 Analyze how Michigan’s location and natural resources influenced its
economic development (e.g., how waterways and other natural resources have influenced
economic activities such as mining, lumbering, automobile manufacturing, furniture making, and
tourism).


Materials:
Vocab cards, vocab worksheets, Location’s Natural Resources and Goods/Services
worksheets


Lesson Opening
Teacher: We have discussed Michigan’s geography and landforms and Michigan’s Native
Americans. Next, we are going to talk about Michigan’s economy. If you have heard of the
word economy, please raise your hand.
Think about the last thing you bought or a family member bought. If you are making a
purchase or selling something, that means you are participating in our economy.
Students: (share examples of things their family has purchased or sold)

Engagement
Teacher: Next, we are going to talk about what the word economy means.
https://www.youtube.com/watch?v=nWPrMmv1Tis
There was a lot of information in that video, so we are going to break it down.
An economy is (show vocab card on board) “the system in how money is made and used to
make, trade or sell goods and services.”
Who can tell me what a good is? What a service is?
Students: Share an answer
Teacher: Thank you for sharing. Now that student Z shared that with us, would getting a
haircut be a good or service? Would buying apples be a good or service? Can you think of an
example of a good? Of a service?
Students: share examples of a good or service and we write them on the board.
Teacher: Thank you for sharing. We made an excellent list here. This brings us to our next
vocab word - Manufacturing: the process of making goods.
I am going to ask for a volunteer to read the first few sentences on our papers. We will be
stopping to take notes and discuss the reading as we go.
Students: Volunteer to read, follow along and underline/highlight vocab and definitions
(make sure to discuss natural resources, human resources, capital resource, agriculture,
mining and manufacturing)



Activity
Students will be given different locations. They will then need to think of what natural
resources are found there. Next, they will have to think of goods or services that would be
beneficial to an economy in that area.

LOCATION DESCRIPTION NATURAL RESOURCES GOODS/SERVICES

Arctic

Rain forest

Desert
*done in pairs or small groups

Michigan Specific Matching
Students must fill in the natural resources column and then come up with a good or service
that would be provided in that location based off those natural resources. There will be an
image of each place added.
LOCATION NATURAL RESOURCES GOODS/SERVICES
 Lake Huron

Pictured Rocks

Grayling Forest
*done in pairs or small groups
Teacher: walks around listening to groups. If a student is stuck, ask them to describe what
is in the picture that they see. What is natural in that picture - is that a natural resource? If
they were going to sell something in that picture, what could it be? If people were going to
come visit that place, what could you do to make money there? For example, we talked
about in the arctic, you could offer a service of pulling people on a sled.

Summary
Teacher: We learned a lot about what an economy is and why natural resources are important
to the economy. Who can remind me some of the important parts of Michigan’s economy?

Students: agriculture, farming, mining, manufacturing,

Teacher: Before we go, please answer the question on your exit ticket
“What is a natural resource? What natural resources are in Michigan?”

 “Scarcity and Opportunity Cost” TE803 Social Studies
Lesson #2

Date: 3/17/20 (day 2 in unit) Lesson Duration: 45 minutes

Topic: Economics Grade: 3rd

Objectives:

· Students will be able to explain scarcity and how it affects what is produced and
consumed using a Michigan example.

· Students will be able to explain opportunity cost and how it affects what is produced and
consumed using a Michigan example.

Standard: 3 – E1.0.1 Using a Michigan example, explain how scarcity, choice, and
opportunity cost affect what is produced and consumed.

Materials:
· “this or that” worksheet
· “this or that” object PowerPoint slide
· “Scarcity and Opportunity Cost in Michigan” reading
· Michigan scenario cards
· Scenario response recorder
· exit tickets “what is scarcity and opportunity cost?”


Lesson Opening
Introduce objectives to students (Students will be able to explain scarcity and how it affects
what is produced and consumed using a Michigan example. Students will be able to explain
opportunity cost and how it affects what is produced and consumed using a Michigan
example.)

Teacher: We are going to continue our discuss of economics and Michigan today.
Yesterday we talked about different types of resources in Michigan. Today we are going to
talk about what happens when there aren’t enough resources for everyone, if everyone
were to get everything they could possibly want. There is a word for that, and it is scarcity.
(write scarcity on the board) We talked about scarcity in our Michigan History unit when
we talked about Native Americans. What were somethings that you remember being scarce
for them during the winter months?

Students: meat, fruit, food, animals for fur, water…

Teacher: Native Americans had to deal with scarcity in their lives, but scarcity still affects
us today and affects me and you. Has there ever been a time where you wanted something
or more of something but there wasn’t enough? I want you to turn to a partner and tell
them about a time that happened to you.

Students: (turn and talk)

Teacher: Can someone share a time they experienced scarcity?

Students: (raise hands and answer)

Teacher: During our day we have different times we experience scarcity. For example, you
might have a scarcity of pencils when you can’t find any. Another example is when we have
snack and you get one snack and you want another, but there is a scarcity of snacks and
only enough snacks for a student to get one.

We experience scarcity because we have limited resources. This means there are not
enough resources in the world for everyone to have everything. There is only a certain
number of a resource. (write limited resources on the board.) Sometimes we don’t have
enough money to buy every single thing we want. Money is an example of a limited
resource.

Although resources are limited, we can have unlimited wants. Limited means only a certain
amount, while unlimited means there is end amount so they can go on forever. Think about
if you are making a wish list for your birthday or for Christmas, you could go on and on
forever if you could have everything you wanted. But because of limited resources we can’t
have everything we want. (write unlimited wants on the board).



Engagement

Teacher: (pass out “this or that” worksheet) I have objects on the board, and I want you to
pick two of them that you would really want. Write one on each line and draw a picture of
them above (model). I am going to give you a few minutes to write them down and draw
them.

Students: (draw items)
Teacher: Now I want you to pick the item that you want the most and circle it. Write the
word choice above it. Above the other object that you did not pick write opportunity cost
(model). I want you to turn and talk to your neighbor and tell them why you picked the item
that you did and why you didn’t pick the other item.

Students: (turn and talk)

Teacher: (have students share with the class some examples)

The objects that you wanted second most are called your opportunity cost. You could only
pick one. The one you picked was your choice and the one that you did not pick and did not
want as much is your opportunity cost.

We are going to read more about scarcity and opportunity cost and answer some questions.
(pass out “scarcity and opportunity cost” reading).

(Have students volunteer to read. Answer questions after reading as a class)



Activity
Teacher: Next I am going to give you examples and I will put you in a group for you to
decide if it is an example of opportunity cost or scarcity.

(Model with an example. Have students get in predetermined center groups. Hand them
worksheets and scenario cards).

Students: (complete activity with group)

Teacher: (Have students return to seats and go through each scenario as a class and discuss
asking prompting questions like “why did you chose scarcity?” or “why you think that?” etc.)



Summary

Teacher: Boys and girls we are going to wrap up. Check your worksheet for your first and last
name with the date. Before we get ready for lunch I want you to fill out an exit ticket for me.

(pass out exit tickets “what is scarcity and opportunity cost?”)

Students: (fill out exit ticket)

































 “Party Planning Committee” TE803 Social Studies
Lesson #3

Date: 3/24/20 (day 7 in unit) Lesson Duration: 45 minutes

Topic: Economics Grade: 3rd

Objectives:

● Students will be able to participate in an economic simulation and make choices thinking
about economic ideas
● Students will be able to describe opportunity cost, scarcity and incentives

Standard:
3 – E1.0.1 Using a Michigan example, explain how scarcity, choice, and opportunity cost affect
what is produced and consumed.

3 – E1.0.2 Identify incentives (e.g., sales, coupons) that influence economic decisions people
make in Michigan.

Lesson Opening
Teacher: Start with a game of hangman (we call it stick man) and have the word be
“choice.”
Students: take turns guessing letters until the game is over.
Teacher: Today’s word is CHOICE. We have spent a few days talking about Michigan and
the economy. We know that when a person participates in an economy, they need to make
a lot of choices. Let's say I have $50 to spend on something. What should I spend it on?
Students: give answers
Teacher: thank you for sharing. Say we buy what Student Y wanted but not what anyone
else wanted. What would our opportunity cost be? What would happen if all 27 of us went
to the store right now with our $50 to buy that thing. If there were only 5 available in the
store, what vocab word describes when there is not enough of something?
Now what if we REALLY wanted that thing and it costs $50. But when we get to the store,
the thing that Students A and B mentioned are there too, and they are on sale! BOGO Free.
Who can remind me what that vocabulary term is?
Students: will raise hand to give ideas and to share answers

Engagement

Teacher: Who can raise their hand and remind me what natural resources mean and give
an example? What about opportunity cost? Scarcity? Incentives?
Students: Give answers and give examples.
Teacher: Thank you for sharing your ideas. For today, we are going to pretend that we all
have a party planning business. We will be working in teams and using our resources to
create a party! When I say go, please move to your small groups from reading.

Activity
Part 1 - Set the Scene. Your groups each have a budget of $100.00 for your party. You will
need to pick a location for the party, decide what food you will have and decide what
activities your guests will do.

Part 2 - Making choices. Begin allowing students to make choices for their party. They will
need to pick a location for the party, a food item and an activity item. You will also need to
set a ticket price (will you have an incentive? If your prices are too high, nobody will want
to come!)

Part 3 - Party Time. Your party is going to start! Each group will be given a profit (they will
make enough to buy some more things, but not enough so that they do not have to make a
choice when getting more seating and plates). Tell groups that everything is going well
until...
- OH NO! Your party has run out of paper plates and there are 50 people who still
need to eat. What will your group do?
- OH NO! Your group ordered a bunch of chairs and tables for your guests, but so did
all the other parties! You are short by 30 chairs and 5 tables. What will your guests
do?

Part 4 - Analysis. This is the part where your group will work together to answer a few
questions.
- What choices did you make for your party?
- What was the opportunity cost?
- How much did your tickets cost? Was there an incentive?
- What was scarce at your party?
- Did your group use any of the natural resources?


Prices for student choices in parts 2 and 3!
Locations

 Location Cost Resources

Beach $50 Water, sand,

Park $30 Trees, bushes, tree stumps,

grass,

School $10

Food

Food Cost

Pizza $20

McDonalds $25

Small Snacks $10

Activity

Activity Cost

Trampoline $15

Movie projector $20

Music DJ $15

Supply Costs

Supplies Cost

Paper Plates $20

Napkins $5

Fancy Plates $25

Chairs $15

Tables $25

Summary
Teacher: Thank you groups for throwing such a great party! You all were faced with making
economic choices and had to work together when there were problems. Each group is going to
share one choice they made and then describe one

Exit Ticket: In Michigan, we have Four Seasons. Say you want to open up a lemonade stand.
Please answer the questions below as the owner of a lemonade stand in Michigan:
1. You want to buy lemons and you want to buy fancy cups. Instead of buying the fancy
cups, you get cheap cups and lemons. What is your opportunity cost?
2. When summer goes to winter and you want to make more lemonade, what might be
scarce? Why?
3. In winter, you are working at your lemonade stand and you see people are not buying
lemonade anymore. What could you sell instead to make money in winter?