Social Studies

May-June, 2017


Unit 4 --- Grade 3 --- Social Studies --- Economics in Our Community

In this unit students will learn the basic economic concepts of costs and benefits, goods and services,

producers and consumers, supply and demand.

They will further learn the role of each of these concepts in an economy.



4.1   I can identify possible costs and benefits of different choices.

 4.2   I can describe what it takes to produce a specific good or service.

 4.3   I can explain why there is a limited supply of goods and services.

 4.4   I can explain how income helps people secure their needs and wants.

 4.5   I can describe the role of consumers in the economy.

 4.6   I can describe the role of producers in the economy.