ExchangeJessica Goolsby

Social Studies Standard 4 - Economics

• 2.4.7 Explain why people trade for goods and services and explain how money makes trade easier

• Taken from http://dc.doe.in.gov/Standards/AcademicStandards/StandardSearch.aspx

• Activity taken from:

http://www.econedlink.org/lessons/index.php?lesson=EM269&page=teacher

Definitions

• Goods – possessions, esp. movable effects or personal property.

• Services – employment in any duties or work for a person, organization, government, etc.

• Exchange – to give up (something) for something else; part with for some equivalent; change for another.

Look at this picture.What do you think is happening?

Questions

• Write the answers to these questions in your journal

• Where is the little girl at?• Do you think the little girl is going to buy the

doll?• How do you think she will pay for it?

Worksheet

• Do this worksheet with a partner and turn in when you’re finished.

Resources

• http://dc.doe.in.gov/Standards/AcademicStandards/StandardSearch.aspx

• http://www.econedlink.org/lessons/index.php?lesson=EM269&page=teacher

• http://www.econedlink.org/lessons/docs_lessons/269_wkst1.pdf

• Lemons and Lemonade: A Book About Supply And Demand (Money Matters) by Nancy Loewen and Brian Jensen