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Author: Annette Theiss
Subject: Social Studies
Grade: 2nd & 3rd Grades
Course: Economics
Title: What Is a Business?
Length of Unit: Three or more class periods
Materials Needed:
Power Macintosh G3 computers
large monitor
Its Groundhog Day by Steven Kroll
Ice Cream Truck software
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Standards-Based Outcomes (MDE):
English Language Arts:
I. Meaning and Communication
Content Standard I, 1: All students will read and comprehend general and technical material.
1. Use reading for multiple purposes, such as enjoyment, gathering information, and learning new procedures.
5. Respond to the ideas and feelings generated by oral, visual, written, and electronic texts, and share with peers.
Content Standard I, 3: All students will focus on meaning and communication as they listen, speak, view, read, and write in personal, social, occupational, and civic contexts.
1. Integrate listening, speaking, viewing, reading, and writing skills for multiple purposes and in varied contexts. Examples include using more than one of the language arts to create a story, write a poem or letter, or to prepare and present a unit project on their community.
4. Describe and use effective listening and speaking behaviors that enhance verbal communication and facilitate the construction of meaning. Examples include use of gestures and appropriate group behavior.
5. Employ strategies to construct meaning while reading, listening to, viewing, or creating texts. Examples include retelling, predicting, generating questions, examining picture cues, discussing with peers, using context clues, and creating mental pictures.
8. Respond to the ideas or feelings generated by texts and listen to the responses of others.
Social Studies:
IV. Economic Perspective
Content Standard IV, 1: All students will describe and demonstrate how the economic forces of scarcity and choice affect the management of personal financial resources, shape consumer decisions regarding the purchase, use, and disposal of goods and services, and affect the economic well-being of individuals and society. (Individual and Household Choices)
Content Standard IV, 2: All students will explain and demonstrate how businesses confront scarcity and choice when organizing, producing, and using resources, and when supplying the marketplace. (Business Choices)
1. Connect economic needs with businesses that meet them.
2. Select a particular good or service and describe the types of resources necessary to produce and distribute it.
Content Standard IV, 4: All students will explain how a free market economic system works, as well as other economic systems, to coordinate and facilitate the exchange, production, distribution, and consumption of goods and services. (Economic Systems)
1. Identify examples of markets they experience in their daily life.
2. Distinguish between producers and consumers in a market economy.
3. Describe how the choices they make impact business decisions.
Mathematics:
III. Data Analysis and Statistics
Content Standard III, 1: Students collect and explore data, organize data into a useful form, and develop skill in representing and reading data displayed in different formats. (Collection, Organization, and Presentation of Data)
2. Organize data using concrete objects, pictures, tallies, tables, charts, diagrams and graphs.
3. Present data using a variety of appropriate representations and explain the meaning of the data.
4. Identify what data are needed to answer a particular question or solve a given problem, and design and implement strategies to obtain, organize, and present those data.
Content Standard III, 2: Students examine data and describe characteristics of a distribution, relate data to the situation from which they arose, and use data to answer questions convincingly and persuasively. (Description and Interpretation)
1. Read and explain data they have collected and organized themselves and progress to reading data from other sources.
3. Draw, explain, and justify conclusions, such as trends based on data.
4. Raise and answer questions about the source, collection, organization, and presentation of data, as well as the conclusions drawn from the data; explore biases in the data.
5. Formulate questions and problems and gather and interpret data to answer those questions.
Content Standard III, 3: Students draw defensible inferences about unknown outcomes, make predictions, and identify the degree of confidence they have in their predictions. (Inference and Prediction)
2. Conduct surveys, samplings, and experiments to solve problems and answer questions of interest to them.
V. Numerical and Algebraic Operations and Analytical Thinking
Content Standard V, 1: Students understand and use various types of operations (e.g., addition, subtraction, multiplication, division) to solve problems. (Operations and their Properties)
2. Develop and apply the appropriate method of computation from among mental computation, estimation, paper-and-pencil, or calculators; explain why they are choosing a method and how they know which operations to perform in a given situation.
4. Apply operations efficiently and accurately in solving problems.
Content Standard V, 2: Students analyze problems to determine an appropriate process for solution, and use algebraic notations to model or represent problems. (Algebraic and Analytic Thinking)
4. Use analytic thinking to describe situations and solve problems.
VI. Probability and Discrete Mathematics
Content Standard VI, 1: Students develop an understanding of the notion of certainty and of probability as a measure of the degree of likelihood that can be assigned to a given event based on the knowledge available, and make critical judgments about claims that are made in probabilistic situations. (Probability)
2. Compare events and describe them as more likely or less likely and use the language of fractions to describe simple probabilities.
5. Conduct probability experiments and simulations to model and solve problems.
Prior Knowledge:
Cue Set:
Best Shot Instruction:
Reteaching and Enrichment:
The students are monitored as they pursue their business ventures. The teacher provides assistance through questions and suggestions to help the students maintain profits. The students are encouraged to share what methods and tactics they find necessary to manage their businesses successfully.
Review and Closure:
Reports of profits made the first day during the business ventures are shared voluntarily. The students are challenged to increase profits during the next day of business.
Assessment:
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