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Economics: Basic Concepts

Learn about various economic concepts, including supply and demand, opportunity costs, natural, human, and capital resources. Includes many class activities, several online quizzes, and interactive games. There is a link to an eThemes Resource on taxes and economics.

Grades

  • 3,
  • 4,
  • 5,
  • 6

Links

This resource provides a unit on Economics for elementary students; includes unit description, lessons, and resources. NOTE: This site includes a discussion board (message board, forum, etc.).
This site provides links to lesson plans to teach students about money.
Find out what it is like to be an economist. The page includes a glossary of terms. NOTE: The site includes pop-up ads. NOTE: The reading level is for older students.
This page offers definitions for various economic concepts, including opportunity cost, capital and human resources, supply and demand, and public goods.
Explore this site to learn more about earning, saving, and investing money. Use the links at the top, plus don't miss the "Ideas for Teachers" link. Includes online calculators to illustrate concepts of compound interest and investing.
This page offers different economics lesson plans for a variety of grade levels. Click on the lesson title to open a lesson.
Students can select how they imagine their life in the future and then discover how much money it will take to support this lifestyle.
Try this online game to find out the costs of running a lemonade stand and how much you will have to sell to make a profit. NOTE: The site includes ads.
This 26-page PDF file can be printed out to use in an economics unit. Includes questions about goods, services, and banks.
Wait for the ad to load, then watch the movie or take the quiz about comparing prices. NOTE: The web site is available by subscription only.
Read how one teacher had her students start a class restaurant in order to learn about economics.
This online glossary provides basic explanations of basic banking and investment concepts.
Students can learn about inflation when they compare the value of a dollar from back in 1913 to today. Read the directions and enter the years and amount you want to compare.
This site offers good ideas for testing what students have learned about economic terms and concepts.
In this online activity, students study a piece of artwork and learn about opportunity cost.
Students can learn about supply and demand by studying the Gold Rush in the late 1840s.
This site provides resources for teaching children about financial responsibility; includes links to classroom resources and descriptive videos.
This Pinterest board is organized to share resources setting up a classroom economy. NOTE: This site includes ads. NOTE: This site includes links to discussion boards (message boards, forums, etc.).
These sites explain the U.S. taxation system and how it works. Learn about the different types of taxes through classroom activities and discussion questions. Also covers the services that local, state, and federal governments provide with tax money. Includes an online concentration game about taxes.
Learn about economics. Find out what exchange, barter, interdependence, profit, and supply and demand are. Learn economics terms and play fun games to practice new skills. Learn why economics is important for each kid and the whole world. Includes activities, online games, and quizzes.

Education Standards

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