What have we been doing these last days in school? Working!
Economy: Goods/Services
Scarcity
Opportunity Cost
Needs/Wants
See if your child can tell you anything about these economic terms.
Scarcity is when there is not enough of something. Time, money, goods, can be scarce. If we have a job to do and not enough people to do it then people are scarce.
Opportunity Cost: Every time we make a choice there is an opportunity cost involved: What we give up is our opportunity cost. For example: I have a choice to go the movies with my family or spend the night with a friend. I choose the movie so my opportunity cost is not spending the night with my friend.
Needs are something we have to have or truly need and wants are things we enjoy but can do without.
Goods are things we can buy, eat, consume, or use and services are provided to us but we are not buying something tangible. A firefighter, police officer, hair cutter, lawn service provide services to us. Goods are games, food, clothes, furniture, etc.
Math: geometry, concepts, reviews of graded papers, kinetic visual definitions for terms, problem solving with geometry, and relating geometry to a Christmas Ornament! Tomorrow we will use co-ordinate directions on a table to create a holiday picture. This is a third grade skill!
Language Skills: Poetry, understanding poetry, comprehension questions in poetry, response to literature in writing for poetry, and all general grammar skills, word meanings, sentence construction, capitalization, punctuation, use of commas in a series, rhyming words, etc.
We have been working hard and we continue learning and getting ready for the CRCT.
We have been working on economy which is actually scheduled for our next grading period but in third with the CRCT we try to cover all academic areas before the test. This keeps us moving along!
Happy Holidays and don't forget our geometry test tomorrow!
B Arnold
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