Beanie Baby prices soar
http://www.econedlink.org/lessons/index.cfm?lesson=EM13&page=teacher
A lesson plan for grades 3–5 Social Studies
Students learn about supply and demand through the sale of Beanie Babies.
North Carolina Curriculum Alignment
Social Studies (2003)
Grade 3
- Goal 5: The learner will apply basic economic principles to the study of communities.
- Objective 5.01: Define and identify examples of scarcity.
- Objective 5.02: Explain the impact of scarcity on the production, distribution, and consumption of goods and services.
Grade 4
- Goal 6: The learner will evaluate how North Carolinians apply basic economic principles within the community, state, and nation.
- Objective 6.01: Explain the relationship between unlimited wants and limited resources.
- Objective 6.02: Analyze the choices and opportunity cost involved in economic decisions.
Grade 5
- Goal 5: The learner will evaluate ways the United States and other countries of North America make decisions about the allocation and use of economic resources.
- Objective 5.07: Describe the ways the United States and its neighbors specialize in economic activities, and relate these to increased production and consumption.
- Objective 5.08: Cite examples of surplus and scarcity in the American market and explain the economic effects.
