Our The Economy lesson plan introduces the concept of economics and enables them to understand related concepts and vocabulary. During this lesson, students are asked to identify which of a list of given statements corresponds to four types of economy: Traditional, Market, Command, or Mixed. Students are also asked to match terms with their correct definitions, demonstrating their understanding of the lesson vocabulary.
At the end of the lesson, students will be able to define economy, compare and contrast types of economies, and explain the difference between micro- and macroeconomics.
Common Core State Standards: CCSS.ELA-Literacy.RI.5.3, CCSS.ELA-Literacy.RI.5.4, CCSS.ELA-Literacy.RI.6.3, CCSS.ELA-Literacy.RI.6.4, CCSS.ELA-Literacy.RH.6-8.4