Grade 3-5, 6-8
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Activity
Who Pays? Who Benefits? Who Provides?
Objective
Students will be able to:
- Recognize the difference between public and private goods and services.
Standard
National Standards in Economics
Role of Government and Market Failure
Standard: 16
- Students will understand that: There is an economic role for government in a market economy whenever the benefits of a government policy outweigh its costs. Governments often provide for national defense, address environmental concerns, define and protect property rights, and attempt to make markets more competitive. Most government policies also have direct or indirect effects on people's incomes.
- Students will be able to use this knowledge to: Identify and evaluate the benefits and costs of alternative public policies, and assess who enjoys the benefits and who bears the costs.
Concepts
In this economics activity, students identify differences in public and private goods and services.
Resources
Procedure
This is an individual activity where students will analyze the differences between public goods and services and private goods and services. Students will complete the Who Pays? Who Benefits? Who Provides Activity. Use the answer key to facilitate student work in real time. To complete this activity, students need to follow the directions below:
- Open Who Pays? Who Benefits? Who Provides Activity and respond to the questions.