Economics Unit with Informational Text and Lapbook

Your students will learn about economics in this complete unit including an informational text you can use either in place of or in addition to your textbook. This is a complete unit with informational text, anticipation guide with questions to guide their reading, a study guide, a unit test, and pieces for an interactive notebook or lapbook.

This unit includes printable options only. If you would like a digital option using Google Drive, check out my Economics Digital Only for Distance Learning with a Google Slides version of the reading text and questions, and a self-grading Google Forms version of the unit test, or get the bundle with both printable and digital options.

This is a complete unit with informational text, anticipation guide with questions to guide their reading, a 40 question test, and pieces for an interactive notebook or lapbook.

This Economics Unit includes a 10-page informational text. This complex text will provide your students with information about needs and wants, goods and services, barter, trade, scarcity, imports and exports, producers and consumers, the characteristics of money, opportunity cost and economic choices. Also, students will learn about natural, human, and capital resources, saving money, and earning and paying interest. They will compare the characteristics of currency from the United States, Canada, Mexico, and the Caribbean.

The unit also includes a unit test and a study guide. There is a packet with an anticipation guide and questions to guide your students as they read each section of the informational packet. All answer keys are included. The reading text pages come in both full size and half-page versions as a paper saving option.

As your students read and learn about economics, they will complete 13 different foldable pieces to make a lapbook about economics. These lapbook pieces can also be used in an interactive social studies notebook. All templates are included for the lapbook. Lapbook pieces are great for formative assessment as you work through the unit.

Florida Sunshine State Standards

SS.3.E.1.1 : Give examples of how scarcity results in trade.

SS.3.E.1.2 : List the characteristics of money. (portable, divisible, recognizable, durable)

SS.3.E.1.3 : Recognize that buyers and sellers interact to exchange goods and services through the use of trade or money.

SS.3.E.1.4 : Distinguish between currencies used in the United States, Canada, Mexico, and the Caribbean.

SS.2.E.1.1 : Recognize that people make choices because of limited resources.

SS.2.E.1.2 : Recognize that people supply goods and services based on consumer demands.

SS.2.E.1.3 : Recognize that the United States trades with other nations to exchange goods and services.

SS.2.E.1.4 : Explain the personal benefits and costs involved in saving and spending.

National Standards in Economics

Standard 1: Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.

Benchmark 3, Grade 4: Goods are objects that can satisfy people’s wants.

Benchmark 4, Grade 4: Services are actions that can satisfy people’s wants.

Benchmark 8, Grade 4: People whose wants are satisfied by using goods and services are called consumers.

Standard 5: Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations.

Benchmark 2, Grade 4: The oldest form of exchange is barter — the direct trading of goods and services between people.

Standard 11: Money makes it easier to trade, borrow, save, invest, and compare the value of goods and services.

Benchmark 2, Grade 4: Money makes trading easier by replacing barter with transactions involving currency, coins, or checks.

Standard 13: Income for most people is determined by the market value of the productive resources they sell. What workers earn depends, primarily, on the market value of what they produce and how productive they are.

Benchmark 2, Grade 4: People can earn income by exchanging their human resources (physical or mental work) for wages or salaries.

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