Social Studies Worksheets and Study Guides Third Grade. Goods and Services

The resources above correspond to the standards listed below:

Kentucky Standards

KY.AE. Academic Expectation
AE.1. Students are able to use basic communication and mathematics skills for purposes and situations they will encounter throughout their lives.
1.2. Students make sense of the variety of materials they read.
KY.CC. Core Content for Assessment v.4.1.
SS-EP-3. Economics: Economics includes the study of production, distribution and consumption of goods and services. Students need to understand how their economic decisions affect them, others, the nation and the world. The purpose of economic education is to enable individuals to function effectively both in their own personal lives and as citizens and participants in an increasingly connected world economy. Students need to understand the benefits and costs of economic interaction and interdependence among people, societies and governments.
SS-EP-3.1. Scarcity
SS-EP-3.1.1. Students will define basic economic terms related to scarcity (e.g., opportunity cost, wants and needs, limited productive resources-natural, human, capital) and explain that scarcity requires people to make economic choices and incur opportunity costs. DOK 2
SS-EP-3.3. Markets
SS-EP-3.3.1. Students will define basic economic terms related to markets (e.g., market economy, markets, wants and needs, goods and services, profit, consumer, producer, supply and demand, barter, money, trade, advertising). DOK 2
SS-EP-3.4. Production, Distribution, and Consumption
SS-EP-3.4.1. Students will define basic economic terms related to production, distribution and consumption (e.g., goods and services, wants and needs, supply and demand, specialization, entrepreneur) and describe various ways goods and services are distributed (e.g., by price, first-come-first-served, sharing equally). DOK 2
KY.PS. Program of Studies 2006
SS-P-E. Big Idea: Economics - Economics includes the study of production, distribution and consumption of goods and services. Students need to understand how their economic decisions affect them, others and the nation as a whole. The purpose of economic education is to enable individuals to function effectively both in their own personal lives and as citizens and participants in an increasingly connected world economy. Students need to understand the benefits and costs of economic interaction and interdependence among people, societies, and governments. (Academic Expectations 2.18)
SS-P-E-S-3. Program of Studies: Skills and Concepts - Students will compare ways people in the past/present acquired what they needed, using basic economic terms related to markets (e.g., goods, services, profit, consumer, producer, supply, demand, buyers, sellers, barter)
SS-P-E-S-4. Program of Studies: Skills and Concepts - Students will describe and give examples of production, distribution and consumption of goods and services in the community
SS-P-E-U-2. Program of Studies: Understandings - Students will understand that a variety of fundamental economic concepts (e.g., supply and demand, opportunity cost) impact individuals, groups and businesses in the community today.
SS-P-E-U-4. Program of Studies: Understandings - Students will understand that markets enable buyers and sellers to exchange goods and services.
SS-P-E-U-5. Program of Studies: Understandings - Students will understand that production, distribution and consumption of goods and services in the community have changed over time.
SS-P-E-U-6. Program of Studies: Understandings - Students will understand that individuals, groups and businesses in the community demonstrate interdependence as they make economic decisions about the use of resources (e.g., natural, human, capital) in the production, distribution, and consumption of goods and services.