Lemonade for Sale
This literature-based lesson incorporates the economic concepts of producer, consumer, and productive resources through active exploration. Students listen to a story about children who produce and sell lemonade to raise money for their clubhouse. They produce a product and classify the resources used in production as natural resources, capital resources (goods), or human resources. The extension activities integrate mathematics and language arts as students graph the lemonade sales and create an advertisement for lemonade.
Related Resources
My Money is a workbook that introduces elementary students to money, coin equivalents, jobs, goods, services and barter.
Alexander, Who Used to Be Rich Last Sunday is a lesson from the Federal Reserve Bank of St. Louis where students hear the story of Alexander, Who Used to Be Rich Last Sunday. Alexander receives a dollar from his grandparents that he plans to save, but he spends it all, a little at a time. Students are asked whether 100 pennies is the same amount of money as one dollar and then count by twos to fill and then empty a container of 100 pennies.
Bunny Money is a lesson where students listen to the story of Ruby and Max, two bunnies that go shopping and make many spending decisions. The Federal Reserve Bank of Kansas City developed this lesson so students can learn about savings goals.
Piggy Bank Primer: Savings and Budgeting is a lesson with accompanying student work book that uses a story, activities and puzzles to introduce students to basic economic concepts, such as saving, spending, budgeting, wants, goods, services and opportunity cost. Created by the Federal Reserve Bank of St. Louis.
Standards Correlations
Voluntary National Content Standards in Economics
- Content Standard 1: Scarcity
- Content Standard 2: Decision Making
- Content Standard 10: Institutions
- Content Standard 11: Money and Inflation
National Standards for Financial Literacy
- Standard I: Earning Income
- Standard II: Buying Goods and Services