|
LESSON: TO MARKET, TO
MARKET
Lesson Summary
In this
take-off of on an old nursery rhyme, To Market To Market, a woman
goes to the market to buy all kinds of pet animals and
vegetables. She ends up making a delicious soup for all her animal
friends.
Concept: Goods
Definition: A good is an object people want
that they can touch or hold.
Comprehension Questions
What is
a market? A market exists whenever people buy and sell goods and
services.
What
two kinds of goods did the woman buy at the market? Pet
animals and vegetables.
What
pet animals and vegetables did she buy? A pig, a red hen, a
plump goose, a live trout, a spring lamb, one milking cow, a white
duck, one stubborn goat, potatoes, celery, beets, ripe red tomatoes,
pea pods, peppers, garlic, spice, a round head of cabbage, a sack of
brown rice, okra, onions, and carrots.
Did the
woman pay a price for the goods she bought? Yes. We don't
know the price, but she had to "buy" them. Goods are not
free. They are scarce and we must pay to get them.
Why did
she buy so many things? The animals were her pets and gave
her much satisfaction and pleasure. The vegetables were for a hot
soup to eat with her animal friends.
Bonus
question! When is an animal considered a natural resource instead of
a good? When it is found in the wild.
Other Concepts: Market, Economic
Wants, Consumers |