Subscribe

3rd grade · Social Studies · Unit 9 of 11

Money, Business & Voting

Earning, saving, prices and profit

What your child practices

Earning, spending, saving and donating money, simple budgets, supply and demand, scarcity, costs and profit, and voting as a civic responsibility.

Texas Essential Knowledge and Skills (TEKS) teks student expectation: 3.5(A); 3.5(B); 3.6(A); 3.6(B); 3.6(C); 3.9(C) · earning, spending, saving and donating, budgets, supply and demand, scarcity and profit, and civic responsibility

How we explain it

Children can open this short lesson before they practice.

  1. People earn money, then spend, save or donate it. A budget is a plan for money.
  2. Supply and demand: when many people want something scarce, the price goes up.
  3. Profit is what a business earns after paying its costs.

Example: A lemonade stand earns $10 and spends $4 on supplies. What is its profit? Profit = money earned − costs. $10 − $4 = $6. Answer: $6

Money, Business & Voting in Texas

In the Texas Essential Knowledge and Skills (TEKS), this is unit 9 of 11 in 3rd grade Social Studies, after Rules, Laws & Government and before Culture & Celebrations.

Gradelings describes a child's practice on this unit as Beginning, Approaching, Meeting or Exceeding (Four practice steps). That reflects practice, not a report-card mark: the teacher decides the mark.

Source: Texas Education Agency (TEA)

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    Many people want a new toy, but stores have only a few. The price will likely…

    • go up
    • go down
    • disappear
    • stay at zero

  2. Question 2

    Profit is…

    • a kind of tax
    • money left after paying costs
    • all the money a store spends

  3. Question 3

    Kai earns $20. He saves half. How much does he save?

    • $15
    • $20
    • $10
    • $5

  4. Question 4

    What do local taxes help pay for?

    • schools, parks and roads
    • your birthday cake
    • your toys

  5. Question 5

    Learning math in school can help a future builder…

    • pay no taxes
    • never work
    • grow taller
    • measure and plan safely

  6. Question 6

    A city builds a new library. Who pays?

    • one librarian
    • the books
    • taxpayers

More 3rd grade