It is time to start studying economics and no one is sure about all those terms. It would be helpful if your classroom had some posters that the kids could look at when your teacher says the words, "goods, services, interdependence, opportunity cost." Your teacher has taken the terms that need to be studied and written each one on a slip of paper. To complete the activity, follow these steps:

1. Choose one slip of paper from the list of terms and using the website below, find out what your term means.
2. Write down the definition on your paper. If you can not find the definition in one of these websites, use the dictionary or encyclopedia in the library or your classroom. Your teacher may also have some books that give you a definition.
3. Once you have the definition, think about how you could illustrate this concept so that other kids would understand.
4. Using KidPix or another drawing program, write the definition at the top of the page.
5. Illustrate your concept in the middle of the page.
6. Use the word in a sentence on the bottom of the page.
7. Add only your first name somewhere on the page. (The best ones will be chosen for a webpage.)
8. Print out your poster and mount it on construction paper for your classroom.

Web Resources

Econopolis-Once you get to the website, click under the word Econopolis to enter the site. Scroll down to the gameboard. Different games have different words defined.
http://tqjunior.thinkquest.org/3901/

Other Resources

Dictionary in the library or your classroom
Check out these library books to find out more about your topic.

Wants and needs:
Goldilocks and the Three Bears by Jan Brett
Goldilocks Returns by Lisa Campbell Ernst
The Three Bears by Paul Galdone
Goldilocks and the Three Bears: A Tale Moderne by Steven Guarnaccia

Goods and services:
The Three Little Kittens by Paul Galdone

Scarcity:
Little Red Riding Hood: A Newfangled Prairie Tale by Lisa Campbell Ernst

Opportunity Cost:
Jack and the Beanstalk by Steven Kellogg
Jack and the Beanstalk by Richard Walker

Producers and Consumers:
The Little Red Hen by Paul Galdone
The Little Red Hen (Makes Pizza) by Philemon Sturges
The Little Red Hen: An Old Story by Margot Zemach

Trade:
Los Tres Pequenos Jabalies: The Three Little Javelinas by Susan Lowell
The Three Little Wolves and the Big Bad Pig by Eugene Trivizas

Teachers:Download this list of terms and cut apart.