Public learning track
Economic Foundations, Production, and Business Decisions
4th Grade · Social-studies · US-WI-SS
10 lessons
Goal
Understand scarcity, factors of production, and how businesses organize resources and manage costs to generate profits.
10 lessons
0 of 10 done
- 1Distinguishing Needs, Wants, Goods, and ServicesUp nextStart
- 2Scarcity and Making Economic ChoicesPremiumNot started yet
- 3Calculating Opportunity Cost in Everyday DecisionsNot started yet
- 4The Four Factors of Production: Land, Labor, Capital, and IdeasNot started yet
- 5Human Capital and Job Skills in ProductionNot started yet
- 6Physical Capital: Tools, Machines, and TechnologyNot started yet
- 7The Role of Entrepreneurs: Taking Risks to Start BusinessesNot started yet
- 8Calculating Business Costs, Revenue, and ProfitNot started yet
- 9Fixed Versus Variable Costs in Firm Decision MakingNot started yet
- 10How Profit Motives Influence Producers and SellersNot started yet
Standards Covered
- SS.Econ2.c.2Wisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Predict how producers use the factors of production (i.e., land, labor, human and physical capital, and entrepreneurship) to make goods, deliver services, and earn profits.
- SS.Econ3.a.1Wisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Identify the cost of everyday goods (e.g., milk, bread, fruit, vegetables, cheese).
- SS.Econ3Wisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Wisconsin students will analyze how an economy functions as a whole (Macroeconomics).
- Econ2.cWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Firm/business behavior and costs of production
- SS.Econ2.c.3Wisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Compare the skills and knowledge required to produce certain goods and services. Provide an example of the factors of production (i.e., land, labor, capital, entrepreneurship) for a given product.
- SS.Econ2.c.mWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Categorize factors of production and how they are combined to make goods and deliver services. Evaluate how profits influence sellers in markets.
- SS.Econ2.c.hWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Calculate the costs of production and explain their role in firm decision making. Differentiate between and calculate revenue and profit for a given firm.
Curriculum Framework
4th Grade · Social-studies · US-WI-SS
1
10 lessons
Map Skills and Geographic Tools
Use geographic tools, grid systems, latitude, longitude, and diverse map types to navigate and analyze spatial patterns.
2
10 lessons
United States Physical Geography and Landforms
Identify major US physical landforms, water systems, climate zones, and human-environment interactions.
3
12 lessons
The Five Regions of the United States and State Capitals
Examine the physical landscapes, economies, cultures, states, and capitals across the five major US regions.
4
11 lessons
Indigenous Peoples and First Nations of North America
Explore the diverse cultures, governance, environments, and enduring sovereignty of Native American nations.
5
4 lessons
European Exploration and Early North American Encounters
Analyze the motivations, key voyages, and ecological impacts of European exploration, as well as early Spanish and French settlements in North America.
6
8 lessons
The Thirteen Colonies: Regions, Economy, and Society
Examine the founding of English settlements, the distinct geographic and economic regions of the Thirteen Colonies, Atlantic trade networks, and daily colonial life.
7
6 lessons
The Road to Revolution: Causes of the American Rebellion
Understand the political, economic, and social tensions that led the American colonies to rebel against British rule.
8
6 lessons
The Revolutionary War and the Birth of the United States
Examine the key battles, diverse contributors, Declaration of Independence, and final peace treaty that established a new nation.
9
8 lessons
The U.S. Constitution and the Three Branches of Government
Examine the origins of the U.S. Constitution, the structure of the three federal branches, and constitutional protections like the Bill of Rights.
10
4 lessons
Levels of Government and Active Citizenship
Explore how local, state, and tribal governments serve communities and learn the rights, responsibilities, and actions of engaged citizens.
11
10 lessons
Historical Inquiry, Sources, and Wisconsin Heritage
Differentiate historical evidence, analyze timelines, and explore key milestones and figures in Wisconsin history.
12
10 lessons
Economic Foundations, Production, and Business Decisions
Understand scarcity, factors of production, and how businesses organize resources and manage costs to generate profits.
13
6 lessons
Supply, Demand, and Market Dynamics
Analyze how buyer and seller behaviors interact through supply and demand to set equilibrium prices and drive market competition.
14
7 lessons
Understanding Money, Earning, and Budgeting
Learn how money functions, how workers earn income, and how to create balanced personal and family budgets.
15
9 lessons
Banking, Credit, and the Financial System
Explore how banks operate, how borrowing and interest work, and how the broader monetary system impacts financial choices.
16
7 lessons
Macroeconomics: Prices, Inflation, and Employment
Understand fundamental macroeconomic concepts including price level changes, inflation, deflation, purchasing power, and how unemployment is measured across demographic groups.
17
9 lessons
Macroeconomics: GDP, Business Cycles, and Global Trade
Analyze national economic output through Gross Domestic Product (GDP), explore the phases of the business cycle, and examine how international trade connects local economies to the world.