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Parent Connections for Social Studies - Third Grade Semester 2 - Running a Business

What does it mean to run a business in a community?

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Does Money Make the World Go Around? In this unit, Running a Business in the Community, students will learn key concepts related to the free enterprise economic system. Topics to be covered will be identifying ways of earning, spending, saving, and donating money.

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Students will create a simple budget that demonstrates money for spending, saving and donating. Students will also identify and define scarcity and the impact of scarcity on the production, distribution, and consumption of goods and services as well as examples of how a simple business operates.

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Individuals, past and present, including Henry Ford and other entrepreneurs in the community such as Mary Kay Ash, Wallace Amos, Milton Hershey, and Sam Walton who have started new businesses will be studied.

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Third Grade - Unit 5