The Value of Goods and Services or How Valuable is that Potato?
Developed by: Maine Council for the Social Studies

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Grade Level: K-2, 3-4

The MLR performance indicators listed below are for illustrative purposes. Depending on the focus of the lessons as developed by individual teachers, these indicators may or may not be addressed. Conversely this is not a definitive listing of all of the performance indicators which could be addressed in this lesson.

MLR: Economics; English/Language Arts: B-2; C-3; E-1, E-2, E-3, E-4, E-6; F-2; G-1, G-6, G-7; H-1, H-2, H-3, H-4

 

Task Description

Students can be presented with two types of items: a dory and bushels of potatoes (or blueberries, or pounds of lobsters, or cans of sardines or gallons of milk).

Students can then discuss how to exchange the dory for quantities of a commodity.

How much do they need to exchange for garbage pickup or fire protection if they are a municipality?

Student Product/Performance

Student discussion should generate a sort of value for each. The product is a class consensus.

Resources

Criteria for Evaluation

Students should be able to demonstrate an understanding barter - assigning a value and equating that value for another commodity.