2nd Grade Economics

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This webquest addresses 2nd grade social studies and economics. This will build a good base for understanding of economics for small children. This can be a little bit of an abstract subject for smaller children, so the activities are fairly easy and very interactive. They will be easy for the children to understand. The stories and books used are children's literature and they tell good stories as well as teaches the students economic lessons. The students can relate to the stories and activities because they are fun and they can relate to some of them in real life.


Strand 5: Economics 2nd Grade
Concept 1: Foundations of Economics
PO 1. Discuss how scarcity requires people to make choices due to their unlimited needs and wants with limited resources.
PO 2. Discuss that opportunity cost occurs when people make choices and something is given up (e.g., if you go to the movies, you can’t also go to the park).
PO 3. Identify differences among natural resources (e.g., water, soil, and wood), human resources (e.g., people at work), and capital resources (e.g., machines, tools and buildings).
PO 4. Recognize that people trade for goods and services.
PO 5. Compare the use of barter and money in the exchange for goods and services (e.g., trade a toy for candy, buying candy with money). Connect with: Strand 2 Concept 2
PO 6. Recognize that some goods are made in the local community and some are made in other parts of the world.
PO 7. Discuss how people can be both producers and consumers of goods and services.


Azed.gov. (2018) K-12 Standards Section: Retrieved From: https://cms.azed.gov/home/GetDocumentFile?id=550c589faadebe15d072aa12

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