"The Giving Tree" and Economy

1.  You will be but into groups of three or four to complete this Economic WebQuest!! 

2.  Go to http://library.thinkquest.org/3901/  and play a few of the activities on this website.  You may play as many as you want; however, you MUST play the SUPPLY AND DEMAND LAND;  GOODS AND SERVICES FARM; OPPORTUNITY COST SHOP;  PRODUCER VS. CONSUMER.

3.  Next, travel to

http://www.socialstudiesforkids.com/articles/economics/scarcityandchoices1.htm  to learn all about scarcity and the choices people must make when a good or service is scarce.  Once you arrive at your destination, make sure you read page one AND two. 

4. Carefully read, listen to, and discuss the story "The Giving Tree" by Shel Silverstein, with your group members.  Go to http://www.youtube.com/watch?v=sEJW2UF4AR0 to watch and listen to "The Giving Tree" by Shel Silverstein. 

 Define and discuss the following words:  Scarcity, Goods, Services, Producer, Consumer, and Opportunity Cost.  Use the Definition Page. 

5. Using Handout 1, make a list of all the services and goods that the tree gave to the boy and how the boys used them for his own personal wants.  How did the boy's wants change as he grew older. 

6. Within your group explain the concept of scarcity and goods and services.
And how you see these terms in your everyday life.  Discuss how price can help you to know how scarce an item is.  Use Handout 2 to complete this task.

9.  NOW!  You and your group members are going to become producers!   Discuss some goods and services you can provide that consumers would want to buy!   Take some time to seriously think about the product you as producers will be offering to consumers!

10.  Lastly, come up with an advertisment to promote your product!  This advertisment may be a commercial, a newpaper ad, a brochure, or a poster.  Here is an example of a commercial you can make with your group:  http://www.schooltube.com/video/2422/Climate-Cup  

This is an example of a poster you can make with your group:  http://z.about.com/d/homeschooling/1/0/A/W/lemonadesign.png

Be as creative as possible!!