Florida SS.5.E.1.2

Social Studies5th GradeMarket Economy

The Standard

Describe a market economy and give examples of how the colonial and early American economy exhibited these characteristics.

Florida Next Generation Sunshine State Standards for Social Studies

Teacher's field guide

What Students Need to Do: Students explain how buyers and sellers exchange goods and services in a market economy. They use examples from colonial and early American life, such as farmers selling crops and craftspeople selling what they made.
What Mastery Looks Like: A student can describe a colonial farmer choosing what to grow and selling extra crops to earn money. They can explain that buyers chose what to purchase, while noting that British trade rules limited some colonial choices.
Common Misconceptions: Students may think colonists only bartered and never used money. They may also think every colonial trade was a free choice, overlooking British rules about where some goods could be sold.
How to Assess It: Exit ticket: A colonial shoemaker makes three pairs of shoes to sell. Name one choice the shoemaker makes, one choice a buyer makes, and one way this shows a market economy.

Lesson moves

Give pairs paper crop and tool cards, then have them trade to meet a printed list of household needs.
Ask students to write: Why might a colonial farmer grow extra wheat instead of only enough for the family?
Play a shopkeeper round with price tags: students choose purchases using five paper coins, then explain their choices.
Show a local farmers market flyer and ask students to match one seller's choice to a colonial farmer's choice.

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