A taxes reading comprehension worksheet with an original two-page non-fiction text on sales, income and property tax for 5th grade. Four questions, one written response and an answer key.
This producers and consumers worksheet has 5th graders follow apples from the farm to the shelf and tell goods apart from services. An answer key is included for easy, no-prep economics practice.
This Taking Care of the Poor Worksheet gives 5th graders an illustrated passage about community food pantries plus evidence-based comprehension questions. An answer key is included, so the practice takes no prep at all.
Introduce digital money with this Cryptocurrency and the Blockchain reading comprehension worksheet for 5th grade. Students read a short nonfiction passage and answer questions, with an answer key included to make checking quick and easy.
Use this reselling for profit reading comprehension worksheet to help 5th grade students explore wholesale prices, unit cost and profit, then answer text-based questions and check their work with the answer key.
Money, choices and why it matters
Fifth graders learn that economics is really about choices. Because resources are limited, people, businesses and governments have to decide what to make, buy and give up. Kids learn about producers and consumers, supply and demand, profit, and opportunity cost, the thing you give up when you choose something else. They also explore how taxes pay for roads, schools and parks, and how people help others in need. The click moment is when kids see that every price tag tells a story about supply, demand and choices.
Economics clicks when kids connect big words to choices they make every day.
Ask "If you had ten dollars, would you buy a book or a movie ticket?" Whatever they pick, the other one is their opportunity cost. Have partners explain their choice and what they gave up. Kids get the idea in minutes!
Why it works: using clear, consistent math words out loud is one of the U.S. Department of Education's recommendations for elementary math.
Try it withReselling for Profit Reading Comprehension WorksheetWorksheetsOpen it →Draw the path of one product, like diesel fuel, from producer to truck to store to consumer. Kids add arrows and labels for who makes, moves and buys it. A picture makes producers and consumers easy to keep straight.
Why it works: pairing a picture with each word gives kids two ways to remember it, a well-tested principle of how people learn (Mayer, 2009).
Try it withDiesel Fuel Producers and Consumers WorksheetWorksheetsOpen it →After reading about taxes, quiz kids with quick questions about their own community: "Who paid for our playground? Our fire truck?" Questions they can answer from real life stick far better than definitions.
Why it works: pulling an answer out of memory makes it stick far better than rereading it, one of the strongest findings in learning research (Dunlosky and colleagues, 2013).
Try it withTaxes Reading Comprehension WorksheetWorksheetsOpen it →A little pretend business goes a long way.
WorksheetsKids set prices for pretend goods, then watch what happens when a popular item runs low. Supply and demand in action!
Open Taking Care of the Poor Worksheet →
AssessmentsRead about cryptocurrency and the blockchain, then debate whether it works like the money in your pocket.
Open Cryptocurrency and the Blockchain Reading Comprehension Worksheet →AssessmentsExplore how communities take care of people in need and brainstorm a class service project.
Open Taking Care of the Poor Worksheet →Teacher favorites right now: Taxes Reading Comprehension Worksheet, Diesel Fuel Producers and Consumers Worksheet and Taking Care of the Poor Worksheet.
It is the study of how people make choices with limited resources. Fifth graders learn about producers and consumers, supply and demand, profit and opportunity cost. They also learn how taxes pay for things a community shares.
It is what you give up when you choose something else. If you spend recess playing soccer instead of tag, tag is your opportunity cost. Kids love finding examples from their own day.
When lots of people want something and there is not much of it, the price usually goes up. When there is plenty and few people want it, the price usually goes down. A pretend classroom market shows this in one afternoon.
Let your child help with a grocery budget or compare prices at the store. Talk about why some things cost more and what you choose not to buy. Real money decisions are the best lesson.
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