When we make decisions, there are costs (bad points) and benefits (good points) that we can use to evaluate our choices. The Three Little Pigs is a great book to use to talk about the costs and benefits of decisions.
Use the classic Project Gutenberg version of the Three Little Pigs or one of the videos below. While you read or view, stop when you get to a problem point. Then, ask students to list choices and think about the costs and benefits of the decisions.
Tell students that a new reality show Pig Places just started and they are doing a feature on the best pig houses to protect against the Big Bad Wolf. Download the PACED Decision Making so students can decide which is the best house to protect pigs from the Big Bad Wolf. Students should list the choices from the stories, as well as one choice of their own, based on a house they have lived in or seen.
Then, to explore more economic concepts, use the Costs and Benefits of Choices in the Three Little Pigs slideshow below to discuss the story.
The Berenstain Bears Get the Gimmies is an engaging story to use to discuss wants and needs. The basic economic concept is that we have unlimited wants but resources are scarce. Therefore, we have to make decisions. There are health wants (needs) and other wants. You can read the book, or watch the first 11 minutes of the video below to see how the Berenstain Bears solve the problem when the cubs get the gimmies.
Before Reading: Ask students to look at the cover and predict what the story will be about. Ask: What are the gimmies? During Reading: Ask students to find places where the cubs get the gimmies and what they learn about making good choices!
After Reading: Use the informational text, and lesson What can I buy? After reading, ask: What advice would you give to Brother and Sister Bear after reading?
Extension: Use the Federal Reserve lesson plan to further explore economic concepts of scarcity, opportunity cost, goods, alternatives, and choice.
Resources are needed to make goods. In this lesson, you can elaborate on natural, capital, and human resources necessary to make tortillas. Resources include:
During Reading tell students to watch for the natural, human, and capital resources needed to make tortillas. When working with young children, you can ask them to describe the jobs people do and the tools or equipment they use.
After Reading check out the informational video from How it's Made. Here are some economic questions to use with the book and video:
Extension! Use Scholastic Community Club Books to have students conduct research on the different jobs people do. Have students create a page (picture and writing) that describes the job, the tools/equipment, and how the worker uses the tools/equipment to make/do something to satisfy our wants. Use information from the text in your product. These pages will be assembled into a class book (paper or digital).
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AuthorDeborah Kozdras, Ph.D. Archives
February 2022
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