Enhanced Scope and Sequence - Virginia Department of Education ...
Enhanced Scope and Sequence - Virginia Department of Education ...
Enhanced Scope and Sequence - Virginia Department of Education ...
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Grade 3<br />
Organizing Topic<br />
Making Economic Choices <strong>and</strong> Opportunity Cost<br />
St<strong>and</strong>ard(s) <strong>of</strong> Learning _____________________________________________________________<br />
3.9 The student will identify examples <strong>of</strong> making an economic choice <strong>and</strong> will explain the idea <strong>of</strong><br />
opportunity cost (what is given up when making a choice).<br />
Essential Underst<strong>and</strong>ings, Knowledge, <strong>and</strong> Skills ______________________________________<br />
Skills (to be incorporated into instruction throughout the academic year)<br />
Gather, classify, <strong>and</strong> interpret information.<br />
Make decisions.<br />
Explain cause-<strong>and</strong>-effect relationships.<br />
Content<br />
Recognize that people make choices because they cannot have everything they want.<br />
Underst<strong>and</strong> that all choices require giving up something else (opportunity cost).<br />
Know the following terms:<br />
Economic choice: The choice <strong>of</strong> or decision among alternatives or possibilities<br />
Opportunity cost: The next best choice that is given up when an economic choice is<br />
made<br />
Know that economic decision-making requires comparing both the opportunity cost <strong>and</strong><br />
the monetary cost <strong>of</strong> choices with benefits.<br />
Correlation to<br />
Instructional Materials<br />
_______________<br />
______________<br />
_______________<br />
_______________<br />
_______________<br />
_______________<br />
_______________<br />
_______________<br />
Identify economic choices on the following chart:<br />
_______________<br />
Choices Choices made Choices given up<br />
(opportunity cost)<br />
Ice cream or popcorn Ice cream Popcorn<br />
Toy or favorite video Favorite video Toy<br />
Spend now or save for the future Spend now Save for the future _______________<br />
2010 History <strong>and</strong> Social Science St<strong>and</strong>ards <strong>of</strong> Learning <strong>Enhanced</strong> <strong>Scope</strong> <strong>and</strong> <strong>Sequence</strong><br />
<strong>Virginia</strong> <strong>Department</strong> <strong>of</strong> <strong>Education</strong> 101
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