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Vocabulary
producersconsumerscostproductionsimple item
Skills
  • differentiate (producers and consumers) #dok2
  • calculate (cost to produce a simple item) #dok2
Learning Targets
  • I can identify the roles of producers and consumers in an economy. #dok1
  • I can recognize examples of producers and consumers in real-life situations. #dok1
  • I can explain the difference between producers and consumers. #dok2
  • I can distinguish between people who make goods or provide services (producers) and those who use them (consumers). #dok2
  • I can determine the cost to produce a simple item using basic calculations. #dok2
  • I can analyze what producers need (materials, labor) to calculate costs. #dok3
Big Ideas
  • People in an economy can be classified as producers or consumers based on whether they make/provide or use goods and services.
  • Producing an item has an associated cost that can be calculated using simple information.
Essential Questions
  • What is the difference between a producer and a consumer?
  • How do producers and consumers interact in everyday life?
  • What are some examples of producers and consumers around us?
  • What kinds of costs go into making a simple item?
  • How can we figure out the total cost to produce something?