The student will describe the economic specialization and interdependence involved in the production of goods and services in various types of communities in the past. The student will explain in simple terms how opportunity cost, scarcity, and price influence economic decision making. They learned to scan pictures from the book and inserted them into a teacher-made database records. Each picture defined one of the terms. The database records were consolidated into one large database and used for review using a cloze reading activity.
Students read sentences with the economics terms missing.
They read the information on the database record and determined what economic term would best complete the cloze sentence. For example, the picture of consumer shows a person coming home with clothes that she bought from the store. A person who comes up with an idea for a better service or product is an entrepreneur. He'll sell them for money. Goods are tangible products that are used by consumers or producers.