Charting the Course: 4th Grade Social Studies

Essential Standard 4.E.2   Understand the economic factors when making personal choices.

Clarifying Objective:  4.E.2.1  Explain how personal financial decisions such as spending, saving, and paying taxes can positively and negatively affect everyday life.

Day 4

You will understand that your personal financial decisions can have benefits and consequences on your every day life.

• "Income" is money that you earn from a job.
• One day, YOU will get to decide how to spend your money.
• Sometimes people only buy what they need because of how much or how little money they have.
• Taxes are taken out of our income because it is required to help provide for needs in the state.

1.  In your group, read Berenstain Bears' DOLLAR and $EN$E by Stan and Jan Berenstain.

• Write a brief summary of the book.  Use Peer Editing Checklist to Peer edit writing.

2.  In your group, come up with a list of items to sell as well as the prices you would charge for each item.

3.  Write letter to parents asking them to donate items to your store.  Again edit using your Peer Editing Checklist.

4.  Using art supplies provided, Create a poster to use at your "store."  This poster should encourage your customers to want to come to your store and buy.  The more they buy(spend), the more you make and can save!

Day 5

The big sale!

With your team-mates:

• set up the table in hallway with items you are selling.
• Make sure prices are visible to the customer.
• Remember to have your poster displayed!
• Mind your manners (Greet customers, Please and thank you!)
• Sell, sell, sell!  Do not forget to add tax to the price of the items to get the total sale price.
• Make sure your customer gets a receipt.
  
• Complete sales sheet.  Calculate how much you earned because of taxes.