Creation, Expansion, and Interaction of Economic Systems
Unit description: In this unit, students will examine how communities meet their needs and wants in a variety of ways, forming the basis for their economy. Students will explore how world communities use human and natural resources in different ways and that people in communities have various ways of meeting their basic needs and earning a living. In addition, students will learn about how each community develops an economic system that addresses three essential questions. Through this study, students will learn about communities and the goods and services they provide as well as trade to meet the needs and wants of the community.
Essential Outcomes of the Unit
Standards
- Standard 4- Economics
Essential Questions and Big Ideas
Big idea of the unit: Community economies focus on how to meet the wants and needs of the the people through producing and trending goods and services.
- How does earning a living help people meet their needs and wants?
- People in communities have various ways of meeting their basic needs and earning a living
- How do natural resources support the needs and wants of people in a community and surrounding communities?
- World communities use human and natural resources in different ways.
- How does trade help support the economic systems of communities importing and exporting goods?
- Surplus and scarcity of resources in individual world communities drive the exchange of goods.
- To meet their needs and wants, communities trade with others.
- How does technology affect trade?
- Technological developments in transportation and communication have influenced trade.
Prerequisite Skills
Teachers should select at least three communities that represent different regions of the world, types of communities (urban, suburban, and rural), and governmental structures. The communities selected should reflect the diversity of the local community. The key ideas, conceptual understandings, and content specifications guide the study of communities while exploring the major themes of social studies. The various world communities, Key Ideas and social studies practices may be presented in any order.