In Social Studies we are studying economics. There are quite a few vocabulary terms to reinforce in this unit. We had a great time today shopping (both at the Santa Secret Shop and within the classroom). The children exchanged their tickets for play money to shop at my store. They were able to see how our unlimited wants and limited resources caused scarcity which meant that they couldn’t have all of the goods that they wanted. They had to make a choice. They found out that there were incentives while shopping especially when a truckload arrived. The choices that they made lead to opportunity cost. We also reinforced everything that we are learning about in math but determining/estimating our total cost, as well as, the change that we will receive.
For extra practice of the vocabulary used in this unit, Mr. Gort created on-line note cards that you can use to practice. This site allows you to print flashcards or complete a review online. http://www.easynotecards.com/