Oklahoma Social Studies 3.C.4.1

3.C.4.1 is a cluster heading. These are the individual standards under it.

• 3.C.4.1.A

  Explain how citizens make their own decisions about what goods or services are produced, and what is purchased, using examples from the local community.

• 3.C.4.1.B

  Describe how the laws of supply and demand impact people's choices about producing and consuming goods and services.

01

What Students Need to Do

Students explain how local sellers choose what to offer and shoppers choose what to buy. They describe how the number of items available and the number of people who want them can affect prices.

02

What Mastery Looks Like

A student can explain why a bakery might make more bread after selling out. They can predict that bread may cost more when many people want it but little is available. They know shoppers can choose another bakery or buy something else.

03

Common Misconceptions

Some students think a store decides what people must buy. Others confuse supply, how much is available, with demand, how many people want it. They may think a store can make more goods as soon as shelves are empty.

04

How to Assess It

Exit ticket: A neighborhood fruit stand has five apples left and 15 people want apples. What might happen to the price? Name one choice the seller can make and one choice a buyer can make.

1. 01

   Set up a paper fruit market with price tags and play money; let sellers choose their stock and buyers choose their purchases.

2. 02

   Ask students to write why a neighborhood bakery might bake more muffins after selling out each morning.

3. 03

   Play a price prediction game: show cards saying 'fewer apples harvested' or 'more families want apples,' then have teams hold up higher or lower.

4. 04

   Compare a local store's sale flyer with a regular price tag; ask why the store might lower a price when items are left over.

• 4.C.4.1.A

  Define a market economic system, explaining how the United States of America’s market system encourages free enterprise, economic development, private property ...

• 6.C.6.2.A

  Define the characteristics of traditional, market, and command economic systems.

• 4.C.4.1

  Describe the features of a market economy and evaluate common benefits and tradeoffs.

• E.C.4

  Describe the role of economic institutions and government in a market economy.