First grade students are learning about basic economics as we study goods and services.  We are discussing how goods and services are produced, distributed, consumed, and exchanged.  First graders will be expected to know that goods are things that are made or grown, and that many goods are made from natural resources. Students will learn that service is work that someone does for someone else.

In learning about goods and services, we will also be discussing consumers and producers. We will define a consumer as someone who buys goods or services and a producer as someone who makes or grows goods, or offers services. Finally, we will be examining supply and demand.  We will learn how a supply is an amount of something available to consumers and the demand is how much a consumer wants something.  We will discuss examples and role play various situations.