Economics Unit for 3rd & 4th Grade - Scarcity, Opportunity Cost, & Budgets

Rated 4.86 out of 5, based on 731 reviews
731 Ratings
The Friendly Teacher
Grade Levels
3rd - 5th
Formats Included
  • PDF
30 pages
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The Friendly Teacher
Easel Activity Included
This resource includes a ready-to-use interactive activity students can complete on any device.  Easel by TPT is free to use! Learn more.

What educators are saying

I was a little nervous about teaching economics but this resource helped me so much! My kids had fun! Thank you!
Wonderful resource to have for a super fun and engaging lesson. I used the vocabulary for spelling as well and the students really grasped the concepts and enjoyed the market and selling to others.


Do you want your students to master all the economics terms and standards in 3rd and 4th grade? Well this hands-on PBL unit to teach economics covers many different concepts through a real life project. After learning vocabulary your students will go through a project that will teach them all about economics.

This is not an explicit teaching product, but a project based learning product.

This Unit Covers

1. Scarcity

2. Opportunity Costs

3. Producers and Consumers

4. Budgets

5. Market Places

Why will these lessons help your students grow?

Engagement- Your students will LOVE to create their businesses and sell their products to a consumer.

Rigor- The students will really have to think through decisions that will relate to something that could happen in their real life.

Low Prep- All you have to do is print and let the kids do the rest!

What’s Included?

1. 10 Day Lesson Plan

2. Anchor Charts

3. Situation and Budget Worksheets

4. A large project where students go through the steps of creating a business and sell to classmates or parents

5. Economics Test

6. Letter to students and parents about the project

7. A rubric

Want more ideas on how to teach economics? Check out this blog post!

What are others saying?!

3rd Grade Teacher- "This activity was amazing and so engaging! My students absolutely loved this project. We had the 4th grade class across the hall come over and purchase our items during our market day and they loved it so much they convinced their teacher to do it too! My students are excited that they will have the chance to be the consumer this time around!"

4th Grade Teacher- "This was one of my students' FAVORITE PROJECTS! They all learned about personal finances, and then designed their own small businesses and learned about profits and how difficult, but rewarding, it can be to design and implement their own ideas into a business! I also gave them all fake credit cards to go around and buy items from their classmates, so each person could mark their sales. Super fun! Can't wait to do it again!"

>>>Read More About The Project Here<<<

Want to integrate this project? Check out this novel study!

Lemonade War Novel Study

Total Pages
30 pages
Answer Key
Teaching Duration
2 Weeks
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