Alabama Social Studies SS24.1.3

SS24.1.3 is a cluster heading. These are the individual standards under it.

• SS24.1.3a

  Explain the concept of using money to acquire goods and services to satisfy needs and wants.

01

What Students Need to Do

Students tell what banks, grocery stores, and other local businesses do. They explain that people use money to buy goods, like food, and services, like haircuts, to meet needs and wants.

02

What Mastery Looks Like

A student can match a bank with keeping money safe, a grocery store with buying food, and a barber shop with haircuts. They can explain that bread meets a need, candy is a want, and a haircut is a service.

03

Common Misconceptions

Students may think banks give people free money. They may think a haircut is a good because it costs money, or that candy is a need because it is food.

04

How to Assess It

On an exit ticket, show pictures of a bank, grocery store, bread, candy, and a haircut. Ask, "Where can you keep money, where can you buy bread, which purchase is a service, and which food is a want?"

1. 01

   Set up a play bank and grocery counter; students deposit play dollars, withdraw two, then buy a paper loaf of bread.

2. 02

   Ask, "If you have $3, would you buy lunch or a sticker first? Tell why one is a need and one is a want."

3. 03

   Play a matching game with bank, grocery, and barber shop cards; students pair each place with saving money, buying apples, or getting a haircut.

4. 04

   Show a local grocery receipt and a photo of a nearby bank; ask students which place sold food and which keeps money safe.

• SS24.S.11c

  Explain the role of social institutions in fostering change and reinforcing stratification.*

• SS24.1.1a

  Explain ways in which responsible citizens contribute to the common good of the community and state.

• SS24.S.8

  Explain the purpose of social systems and institutions, including governments, houses of worship, schools, and voluntary associations.

• SS24.E.5c

  Research and present information on the role and impact of economic institutions on state and national economies, including labor unions and nonprofit organizat...