Hello, Guest!

Instructional Focus Document
Grade 3 Social Studies
TITLE : Unit 06: Running a Business in the Community SUGGESTED DURATION : 20 days

Unit Overview

Introduction

This unit bundles student expectations that address economic concepts related to the free enterprise economic system. The Grade 3 curriculum builds from students’ previous economic studies about having a job, the difference between needs and wants, and the nature of producers and consumers. A review of those concepts in the context of economic choices may be beneficial to students. The Grade 3 curriculum introduces scarcity as a component of the free enterprise system. A study of supply and demand, budgeting, and scarcity is necessary for understanding how economic choices are made by individuals in the free enterprise system.

Prior to this Unit

Prior to this unit, students studied about the structure and functions of local, state, and the national governments.

During this Unit

During this unit, students study about how to create a budget, about how scarcity affects free markets, and about how goods and services are provided by businesses. Additionally, students learn about selected American entrepreneurs who have successfully established thriving businesses.

After this Unit

In the next unit, students study about individuals who, by various means, make a difference in the community.


In a free enterprise system the individual has choices as a producer and consumer.

  • What motivates the economic choices of the individual?
Unit Understandings
and Questions
Overarching Concepts
and Unit Concepts
Performance Assessment(s)

People make choices when they create a budget.

  • Why is it important to follow a budget?
  • What is the difference between earning, spending, saving, and donating money?
  • What is income and what are expenses?

Economic Patterns

  • Scarcity/Choices
Assessment information provided within the TEKS Resource System are examples that may, or may not, be used by your child’s teacher. In accordance with section 26.006 (2) of the Texas Education Code, "A parent is entitled to review each test administered to the parent’s child after the test is administered." For more information regarding assessments administered to your child, please visit with your child’s teacher.

In the free enterprise economic system the scarcity of resources affects choices.

  • What is scarcity?
  • How does a free market work?
  • How does scarcity affect our economic choices?

Economic Patterns

  • Scarcity/Choices
  • Economic Systems
Assessment information provided within the TEKS Resource System are examples that may, or may not, be used by your child’s teacher. In accordance with section 26.006 (2) of the Texas Education Code, "A parent is entitled to review each test administered to the parent’s child after the test is administered." For more information regarding assessments administered to your child, please visit with your child’s teacher.

Goods and services are provided by businesses in a free enterprise economic system. 

  • What steps do you need to take to start a business?
  • How does supply and demand affect prices of goods and services?
  • How does a business make profits?
  • Why are entrepreneurs for businesses?

Economic Patterns

  • Scarcity/Choices
  • Factors of Production
Assessment information provided within the TEKS Resource System are examples that may, or may not, be used by your child’s teacher. In accordance with section 26.006 (2) of the Texas Education Code, "A parent is entitled to review each test administered to the parent’s child after the test is administered." For more information regarding assessments administered to your child, please visit with your child’s teacher.

MISCONCEPTIONS / UNDERDEVELOPED CONCEPTS

  • None Identified

Unit Vocabulary

free enterprise economic system – economic system where people have freedom as consumers and producers
budget – a plan for managing a person’s income and expenses
income – money a person gets from working or selling goods and services
expense – the costs a persons has for goods and services they buy
profits – the money made by a business after paying all expenses
scarcity – a shortage of a resource 
entrepreneur – a person who starts a business

Related Vocabulary

  • earning
  • spending
  • donating
  • market
  • saving
Unit Assessment Items System Resources

Show this message:

Unit Assessment Items that have been published by your district may be accessed through Search All Components in the District Resources tab. Assessment items may also be found using the Assessment Center if your district has granted access to that tool.

System Resources may be accessed through Search All Components in the District Resources Tab.


TAUGHT DIRECTLY TEKS

TEKS intended to be explicitly taught in this unit.

TEKS/SE Legend:

  • Knowledge and Skills Statements (TEKS) identified by TEA are in italicized, bolded, black text.
  • Student Expectations (TEKS) identified by TEA are in bolded, black text.
  • Portions of the Student Expectations (TEKS) that are not included in this unit but are taught in previous or future units are indicated by a strike-through.

Specificity Legend:

  • Supporting information / clarifications (specificity) written by TEKS Resource System are in blue text.
TEKS# SE# TEKS SPECIFICITY
3 Economics.
3.6 Economics. The student understands the purposes of earning, spending, saving, and donating money. The student is expected to:
3.6A Identify ways of earning, spending, saving, and donating money.

Identify

WAYS OF EARNING, SPENDING, SAVING AND DONATING MONEY

Including, but not limited to:

  • Earning – providing a paid service, completing a paid job, interest from saving
    • Examples for students include taking out the trash, taking care of a pet, cleaning your bedroom
  • Saving – setting aside money, either in a savings account or piggy bank, earned or given for future use
    • Examples for students include buying what you need and not what you want, following a budget
  • Spending – purchasing goods and services to satisfy wants and needs
    • Examples include paying bills on time, prioritizing what is more important, budgeting money
  • Donating –giving money or goods and services with a monetary value to a charitable organization
    • Examples for students include donating money to nonprofit organizations, donating time and services
3.6B Create a simple budget that allocates money for spending, saving, and donating.

Create

A SIMPLE BUDGET THAT ALLOCATES MONEY FOR SPENDING, SAVING AND DONATING.

Including, but not limited to:

  • Simple budget
  • allocate money for spending
  • allocate money for saving
  • allocate money for donating

Possible related questions to ask include:

  • How is the money earned? How much is earned?
  • How is the money spent? How much is spent?
  • How much is saved and for what purpose?
  • What, how much, and how often is money donated? What organization does the money benefit and why?
3.7 Economics. The student understands the concept of the free enterprise system. The student is expected to:
3.7A Define and identify examples of scarcity.

Define, Identify

EXAMPLES OF SCARCITY

Including, but not limited to:

  • Scarcity – items are scarce when the supply of a good or service does not satisfy the demand. Scarcity exists because human wants for goods and services exceed the quantity of goods and services that can be produced using all available resources.
  • Examples of scarce items may include resources that are non-renewable such as oil, resources that are difficult to produce such as advanced technologies , resources that are rare such as precious gems, resources that are highly demanded such as housing
3.7B Explain the impact of scarcity on the production, distribution, and consumption of goods and services.

Explain

IMPACT OF SCARCITY ON PRODUCTION, DISTRIBUTION, AND CONSUMPTION OF GOODS AND SERVICES

Including, but not limited to:

  • Scarcity and production – when the resources required to produce goods and services are scarce, the product either cannot be made or production is limited. This drives up the cost of the item. Natural resources may be scarce because they are non-renewable or renewable, but demand exceeds supply.
  • Scarcity and distribution – if a good or service cannot be distributed to all who need or want it, those able to pay the highest price for the good or service will be able to acquire it.
  • Scarcity and consumption – when the good or service is being consumed faster than it is available, that drives up the cost. If a good or service is a non-renewable resource, then those who need a scarce item may be forced to conserve it. If it is a renewable resource, it may be consumed faster than it is being replenished. This also may force conservation.
3.7C Explain the concept of a free market as it relates to the U.S. free enterprise system.

Explain

HOW A FREE MARKET RELATES TO THE U.S. FREE ENTERPRISE SYSTEM

Including, but not limited to:

  • Free market – a market economy in which private producers supply goods and services to meet consumer demand with little or no government interference in the market
  • U.S. free enterprise system –  is characterized by the freedom to operate privately owned businesses, the right to private property, a profit motive, competition, and consumer freedom of choice
  • In the U.S. free enterprise system, Americans value a market place free of government interference.
3.8 Economics. The student understands how businesses operate in the U.S. free enterprise system. The student is expected to:
3.8A Identify examples of how a simple business operates.

Identify

EXAMPLES OF HOW A SIMPLE BUSINESS OPERATES

Including, but not limited to:

  • In the American free enterprise system, people can choose what to produce, how to produce, how much to produce, and for whom to produce with little government interference, taking advantage of principles of economic freedom, voluntary exchange, private property, and the profit motive
  • To start a business, a potential business owner first identifies goods and services needed in the community and gauges whether there is a large demand for a particular good or service and determines a process for offering the good or service to the community. If demand is high and of appropriate quality, the business pays production costs and labor costs, leaving a profit. Supply of raw materials and demand goods and services are interdependent principles that affect cost, price, and profit.
3.8B Explain how supply and demand affect the price of a good or service.

Explain

HOW SUPPLY AND DEMAND AFFECT THE PRICE OF GOODS AND SERVICES

Including, but not limited to:

  • High supply, low demandresults in lower prices in an effort to increase demand to sell the supply of goods
  • Low supply, high demandresults in higher prices until production of the good increases
3.8C Explain how the cost of production and selling price affect profits.

Explain

HOW PROFITS ARE AFFECTED BY COST OF PRODUCTION AND SELLING PRICE

Including, but not limited to:

  • Cost of production – the cost of materials plus labor plus business expenses.
  • Selling price – the price at which consumers are willing to pay
  • Profit – the difference between the cost of production and the selling price is the profit
  • If the cost of production is very expensive, potentially the selling price needs to be high to make a profit.  And conversely if the cost of production is low the potential for profit at a higher selling price is great
3.8D Explain how government regulations and taxes impact consumer costs.

Explain

HOW CONSUMER COSTS ARE AFFECTED BY TAXES AND GOVERNMENT REGULATIONS

Including, but not limited to:

  • Taxes are collected to pay for community services such as schools, roads, law enforcement, fire protection, and emergency services.
  • Taxes are added to the costs of goods and services, increasing their overall cost to consumers.
  • Government regulations set tax rates, set procedures requirements (building inspections, safety requirements), which costs are included when determining production costs, and setting prices consumers pay.
3.8E Identify individuals, past and present, including Henry Ford and other entrepreneurs in the community such as Mary Kay Ash, Wallace Amos, Milton Hershey, and Sam Walton, who have started new businesses.

Identify

INDIVIDUALS, PAST AND PRESENT, WHO HAVE STARTED NEW BUSINESSES

Including, but not limited to:

  • Henry Ford – founded the Ford Motor Company in 1903 and developed the Model T by 1908. Ford used interchangeable parts, mass production, and the assembly line to reduce the price of the Model T and revolutionize manufacturing. He helped create a mobile society by mass producing and marketing the Model T automobile, making it an indispensable part of American life. Through his efforts, the automotive industry became a world-wide phenomenon. Born on a farm near Detroit, Michigan, Ford worked on the farm, at a shipbuilding firm, and for a company which serviced steam engines. During the winters he experimented on building his own internal-combustion engines. He drove his first home-built automobile in 1896. He retained complete company control and used it to amass billions of dollars. (TEA – Social Studies Center Biographies, 2000) 
  • Mary Kay Ash – founder of Mary Kay Cosmetics, Inc. Mary Kay Ash used direct-sales marketing and women as sales people to create a multi-million dollar business. Born in Hot Wells, Texas, Mary Kay Wagner Ash founded Mary Kay Cosmetics in 1963 with $5,000 in capital and her innovative marketing ability. She gained experience with direct sales of consumer products in homes by managing Stanley Home Products in Houston from 1939 to 1952 and serving as national training director of World Gift Company in Dallas from 1952 until 1963. She motivated her sales staff of “beauty consultants” by paying the highest commissions in the direct-sales industry and rewarding those who recruited new “consultants,” giving prizes, public recognition at annual conventions, and profit. The cosmetic company manufactures all products and sells them directly to the sales people. They receive training in goal setting, self-motivation, and customer service, and function independently. As the company expanded through the 1970s, it built upon the changing role of women as a potential labor pool. Consultants increased from 10 in 1963 to 70,000 in 1980 and sales climbed to $90 million in 1979. Mrs. Ash served as Chairman emeritus of Mary Kay Cosmetics and also on the board of service organizations including the Horatio Alger Association and the Texas Breast Screening Project of the American Cancer Society. (TEA – Social Studies Center Biographies, 2000) 
  • Wallace Amos – founder of “Famous Amos” cookies. He dropped out of high school to join the Air Force. Later, he became the first African American talent agent for the William Morris Agency. He attracted clients by sending them homemade chocolate chip cookies. Friends suggested he start his own business, and he opened the first store in Los Angeles, California. He is now a motivational speaker and volunteer for Literacy Volunteers of America, helping thousands of adults learn to read.
  • Milton Hershey – founder of Hershey’s chocolate. Hershey never had a formal education; he was apprenticed as a teenager to a candy company. His first attempt to open his own candy business failed, even after he worked for six years. His second attempt failed as well. Finally, he opened a successful candy business in Lancaster, Pennsylvania, but he only made caramel. After he attended the World’s Fair in 1893, he started experimenting with chocolate. He found the perfect formula at the same time that consumer demand for chocolate was very high. He sold the caramel candy company and devoted all of his efforts into making chocolate.
  • Sam Walton – founder of Walmart. Walton grew up on a farm in Oklahoma during the Depression. He worked a variety of odd jobs to help his family, and he worked his way through college. He bought his first store with a loan from his father-in-law and developed many business practices there that would help him make Walmart the number one retail store in the world. He made sure the shelves were stocked with a variety of goods at low prices, and he also bought from the lowest-priced supplier. He bought in volume so he could buy goods for lower prices, a savings he passed to his customers.
  • Other entrepreneurs – business owners from the local community who have started new businesses
3 Social studies skills.
3.17 Social studies skills. The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources, including electronic technology. The student is expected to:
3.17A Research information, including historical and current events, and geographic data, about the community and world, using a variety of valid print, oral, visual, and Internet resources.

Research

INFORMATION ABOUT THE COMMUNITY AND WORLD USING A VARIETY OF SOURCES

Including, but not limited to:

  • Print sources (e.g., newspapers, books, and periodicals)
  • Oral sources (e.g., conversations, interviews)
  • Visual sources (e.g., maps, pictures, photographs, charts and graphs, film documentaries, and news reports)
  • Internet sources (e.g., internet searches, databases)
3.17B Sequence and categorize information.

Sequence, Categorize

INFORMATION

Sequence, Categorize

INFORMATION

3.17E Interpret and create visuals, including graphs, charts, tables, timelines, illustrations, and maps.

Interpret, Create

VISUALS

Including, but not limited to:

  • Graphs
  • Charts
  • Tables
  • Timelines
  • Illustrations
  • Maps
3.18 Social studies skills. The student communicates in written, oral, and visual forms. The student is expected to:
3.18C Use standard grammar, spelling, sentence structure, and punctuation.

Use

WRITTEN SKILLS TO COMMUNICATE

Including, but not limited to:

  • Standard grammar
  • Spelling
  • Sentence structure
  • Punctuation
The English Language Proficiency Standards (ELPS), as required by 19 Texas Administrative Code, Chapter 74, Subchapter A, §74.4, outline English language proficiency level descriptors and student expectations for English language learners (ELLs). School districts are required to implement ELPS as an integral part of each subject in the required curriculum.

School districts shall provide instruction in the knowledge and skills of the foundation and enrichment curriculum in a manner that is linguistically accommodated commensurate with the student’s levels of English language proficiency to ensure that the student learns the knowledge and skills in the required curriculum.


School districts shall provide content-based instruction including the cross-curricular second language acquisition essential knowledge and skills in subsection (c) of the ELPS in a manner that is linguistically accommodated to help the student acquire English language proficiency.

http://ritter.tea.state.tx.us/rules/tac/chapter074/ch074a.html#74.4 


Choose appropriate ELPS to support instruction.

ELPS# Subsection C: Cross-curricular second language acquisition essential knowledge and skills.
Click here to collapse or expand this section.
ELPS.c.1 The ELL uses language learning strategies to develop an awareness of his or her own learning processes in all content areas. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.1A use prior knowledge and experiences to understand meanings in English
ELPS.c.1B monitor oral and written language production and employ self-corrective techniques or other resources
ELPS.c.1C use strategic learning techniques such as concept mapping, drawing, memorizing, comparing, contrasting, and reviewing to acquire basic and grade-level vocabulary
ELPS.c.1D speak using learning strategies such as requesting assistance, employing non-verbal cues, and using synonyms and circumlocution (conveying ideas by defining or describing when exact English words are not known)
ELPS.c.1E internalize new basic and academic language by using and reusing it in meaningful ways in speaking and writing activities that build concept and language attainment
ELPS.c.1F use accessible language and learn new and essential language in the process
ELPS.c.1G demonstrate an increasing ability to distinguish between formal and informal English and an increasing knowledge of when to use each one commensurate with grade-level learning expectations
ELPS.c.1H develop and expand repertoire of learning strategies such as reasoning inductively or deductively, looking for patterns in language, and analyzing sayings and expressions commensurate with grade-level learning expectations.
ELPS.c.2 The ELL listens to a variety of speakers including teachers, peers, and electronic media to gain an increasing level of comprehension of newly acquired language in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in listening. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.2A distinguish sounds and intonation patterns of English with increasing ease
ELPS.c.2B recognize elements of the English sound system in newly acquired vocabulary such as long and short vowels, silent letters, and consonant clusters
ELPS.c.2C learn new language structures, expressions, and basic and academic vocabulary heard during classroom instruction and interactions
ELPS.c.2D monitor understanding of spoken language during classroom instruction and interactions and seek clarification as needed
ELPS.c.2E use visual, contextual, and linguistic support to enhance and confirm understanding of increasingly complex and elaborated spoken language
ELPS.c.2F listen to and derive meaning from a variety of media such as audio tape, video, DVD, and CD ROM to build and reinforce concept and language attainment
ELPS.c.2G understand the general meaning, main points, and important details of spoken language ranging from situations in which topics, language, and contexts are familiar to unfamiliar
ELPS.c.2H understand implicit ideas and information in increasingly complex spoken language commensurate with grade-level learning expectations
ELPS.c.2I demonstrate listening comprehension of increasingly complex spoken English by following directions, retelling or summarizing spoken messages, responding to questions and requests, collaborating with peers, and taking notes commensurate with content and grade-level needs.
ELPS.c.3 The ELL speaks in a variety of modes for a variety of purposes with an awareness of different language registers (formal/informal) using vocabulary with increasing fluency and accuracy in language arts and all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in speaking. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.3A practice producing sounds of newly acquired vocabulary such as long and short vowels, silent letters, and consonant clusters to pronounce English words in a manner that is increasingly comprehensible
ELPS.c.3B expand and internalize initial English vocabulary by learning and using high-frequency English words necessary for identifying and describing people, places, and objects, by retelling simple stories and basic information represented or supported by pictures, and by learning and using routine language needed for classroom communication
ELPS.c.3C speak using a variety of grammatical structures, sentence lengths, sentence types, and connecting words with increasing accuracy and ease as more English is acquired
ELPS.c.3D speak using grade-level content area vocabulary in context to internalize new English words and build academic language proficiency
ELPS.c.3E share information in cooperative learning interactions
ELPS.c.3F ask and give information ranging from using a very limited bank of high-frequency, high-need, concrete vocabulary, including key words and expressions needed for basic communication in academic and social contexts, to using abstract and content-based vocabulary during extended speaking assignments
ELPS.c.3G express opinions, ideas, and feelings ranging from communicating single words and short phrases to participating in extended discussions on a variety of social and grade-appropriate academic topics
ELPS.c.3H narrate, describe, and explain with increasing specificity and detail as more English is acquired
ELPS.c.3I adapt spoken language appropriately for formal and informal purposes
ELPS.c.3J respond orally to information presented in a wide variety of print, electronic, audio, and visual media to build and reinforce concept and language attainment.
ELPS.c.4 The ELL reads a variety of texts for a variety of purposes with an increasing level of comprehension in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in reading. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. For Kindergarten and Grade 1, certain of these student expectations apply to text read aloud for students not yet at the stage of decoding written text. The student is expected to:
ELPS.c.4A learn relationships between sounds and letters of the English language and decode (sound out) words using a combination of skills such as recognizing sound-letter relationships and identifying cognates, affixes, roots, and base words
ELPS.c.4B recognize directionality of English reading such as left to right and top to bottom
ELPS.c.4C develop basic sight vocabulary, derive meaning of environmental print, and comprehend English vocabulary and language structures used routinely in written classroom materials
ELPS.c.4D use prereading supports such as graphic organizers, illustrations, and pretaught topic-related vocabulary and other prereading activities to enhance comprehension of written text
ELPS.c.4E read linguistically accommodated content area material with a decreasing need for linguistic accommodations as more English is learned
ELPS.c.4F use visual and contextual support and support from peers and teachers to read grade-appropriate content area text, enhance and confirm understanding, and develop vocabulary, grasp of language structures, and background knowledge needed to comprehend increasingly challenging language
ELPS.c.4G demonstrate comprehension of increasingly complex English by participating in shared reading, retelling or summarizing material, responding to questions, and taking notes commensurate with content area and grade level needs
ELPS.c.4H read silently with increasing ease and comprehension for longer periods
ELPS.c.4I demonstrate English comprehension and expand reading skills by employing basic reading skills such as demonstrating understanding of supporting ideas and details in text and graphic sources, summarizing text, and distinguishing main ideas from details commensurate with content area needs
ELPS.c.4J demonstrate English comprehension and expand reading skills by employing inferential skills such as predicting, making connections between ideas, drawing inferences and conclusions from text and graphic sources, and finding supporting text evidence commensurate with content area needs
ELPS.c.4K demonstrate English comprehension and expand reading skills by employing analytical skills such as evaluating written information and performing critical analyses commensurate with content area and grade-level needs.
ELPS.c.5 The ELL writes in a variety of forms with increasing accuracy to effectively address a specific purpose and audience in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in writing. In order for the ELL to meet grade-level learning expectations across foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. For Kindergarten and Grade 1, certain of these student expectations do not apply until the student has reached the stage of generating original written text using a standard writing system. The student is expected to:
ELPS.c.5A learn relationships between sounds and letters of the English language to represent sounds when writing in English
ELPS.c.5B write using newly acquired basic vocabulary and content-based grade-level vocabulary
ELPS.c.5C spell familiar English words with increasing accuracy, and employ English spelling patterns and rules with increasing accuracy as more English is acquired
ELPS.c.5D edit writing for standard grammar and usage, including subject-verb agreement, pronoun agreement, and appropriate verb tenses commensurate with grade-level expectations as more English is acquired
ELPS.c.5E employ increasingly complex grammatical structures in content area writing commensurate with grade-level expectations, such as:
ELPS.c.5F write using a variety of grade-appropriate sentence lengths, patterns, and connecting words to combine phrases, clauses, and sentences in increasingly accurate ways as more English is acquired
ELPS.c.5G narrate, describe, and explain with increasing specificity and detail to fulfill content area writing needs as more English is acquired.
Last Updated 05/23/2018
Loading
Data is Loading...