Economic Decision Making
In Grade 2, students develop an understanding of economic concepts related to goods and services, needs and wants, and the role of work in our communities. They explore how people earn money, how communities provide goods and services, and how economic decisions affect daily life. This knowledge helps students understand basic economic principles and their role as consumers.
Grade Two Expectations for Economic Decision Making
Essential Learning Outcome 1: Goods and Services
- Identify goods and services provided in their community
- Explain how communities meet people's needs through goods and services
- Appreciate the interdependence of people in providing goods and services
- Describe how goods are transported to communities
- Identify the difference between goods that are produced locally and those that come from other places
Specific Curriculum Outcomes
By the end of Grade Two, the learner will be expected to:
Inclusive Assessment Strategies
Assessment strategies that provide information about learning:
- Observations: Observing student participation in role plays, market simulations, field trips to local businesses
- Conversations: Critical thinking questions, picture sorting activities, guided discussions about economic choices
- Products: Goods and services charts, needs vs. wants collages, community worker profiles, simple budgets
Sample Assessment Tools:
- Checklists for identifying goods and services
- Needs and wants sorting activities
- Community worker interview forms
- Simple budget planning worksheets
- Transportation of goods mapping activities
Inclusive Learning Strategies
Strategies to support diverse learners:
- Community Connections: Field trips to local businesses, visits from community workers, classroom store simulations
- Experiential Learning: Role playing different jobs, creating goods to sell at a class market, tracking classroom resources
- Visual Supports: Picture cards of goods and services, visual needs vs. wants sorting activities, job picture dictionaries
- Collaborative Work: Small group business planning, partner interviews about jobs, team budget activities
Focus Questions:
- What goods and services do we use in our community?
- How do goods get to our community?
- What is the difference between things we need and things we want?
- Why can't we always get everything we want?
- What kinds of jobs do people do in our community?
- How has technology changed the way people work?