LESSON: YARD SALE

LESSON PLAN SUMMARY

A whole community of animals decides to hold a community yard sale to get rid of stuff (goods) they no longer want.

Concept: Economic Wants

Definition: Economic wants are desires that can be satisfied by consuming a good, service, or leisure activity.

Comprehension Questions

Why were all the animals taking their stuff (goods) to the yard sale?
It provided a place for them to sell all the goods they no longer wanted and for somebody else to buy them.

List the goods that were brought to the yard sale because they no longer satisfied the animals' economic wants.
Red chair, accordion, miscellaneous kitchen things, picture frames, cracked tea cup, old book, alarm clock, tattered neckties, broken hockey stick.

Explain how the alarm clock that Henry purchased would satisfy his want.
He wanted an alarm clock that wasn't noisy.

Identify the economic want that could be satisfied by Simsbury keeping the bike.
It would provide a leisure activity - a way to take a spin.

List other goods that Simsbury could not get rid of because they satisfied his economic wants.
Picture postcards, old guitar.

Identify the good that Naomi wanted to purchase from April.
Nice green comb.

What good did Matthew want?
Beth's ratty-looking orange footstool.

Describe how Beth's economic want was satisfied.
By buying back the footstool she had sold to Matthew.

Explain how Nick and Myrna both solved their economic want for the accordion.
They both bought the accordion and shared it.

Other Concepts: Goods and Services, Consumers, Scarcity, Trade and Money, Market, Price

  Economic Wants    

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